Baum, S., McPherson, M. (2011). Net-price calculators: A good first step. Retrieved from http://chronicle.com/blogs/innovations/net-price-calculators-a-good-first-step/28968.
On October 29, 2011, all colleges and universities, who participate in Title IV federal student aid, are mandated by the federal government to have a Net Price Calculator on their college website. The calculators use institutional data such as budgets (tuition, room/board, books, personal expenses) and award amounts to provide an estimated "net" cost to current and prospective students (Baum & McPherson, 2011).
The purpose of the net price calculators is to help parents and students make better informed decisions about where to go to school. The calculators allow for prediction in costs before enrolling in a college (Baum & McPherson, 2011). The success of the calculators have yet to be seen but will likely depend on the design utilized by each institution. The federal government template allows only for grant programs (i.e. Pell grant). Other templates allow for customization in which schools can ask specific questions related to a specific question. While the calculators will provide initial information, it will be important for the student and parent to go above and beyond to talk to the institution of choice before making any final decisions. Better decisions and guidance can lead to a better college experience (Baum & McPherson, 2011).
This is Amy Cable's post
ReplyDeleteAmy,
ReplyDeleteThis is a good tool for current and prospective students. It could really help some people realize that waiting to attend may be prudent, or that attending a less expensive school is the right decision for them.
Elizabeth