Friday, November 11, 2011

A New Online Tool for Prospective Students Helps to Weight College Costs

An online tool helps prospective students get a better idea of college costs. The net-price calculator is a part of the Higher Education Opportunity Act –– a nationwide initiative by the U.S. Department of Education to get all post-secondary institutions to offer an attendance cost estimate tool.

“I think it’s a good step forward to understand what the cost of school is,” said Kris Wright, director of the University’s Office of Student Finance.

The calculator asks a series of questions about family income and then predicts expected family contributions — what the family can expect to pay and how much will be covered by grants, work study and loans.

“[It’s] a shortcut for FAFSA,” Wright said in reference to the Free Application for Federal Student Aid. But the calculator doesn’t account for possible scholarships.

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