![]() Here are the most important advantages of using a net price calculator: You’ll want to find out more from the school by asking detailed financial aid questions. While net price calculators are a great place to start, they are just a jumping-off point for comparing the price of colleges. For instance, you might have chosen living with parents at one school and off campus at another. Take notes if you answered questions differently on one calculator versus another. List your top school choices and the approximate net cost on a piece of paper, a spreadsheet or a document. Create a List of the Net Calculator Results for Top School Choices When you use net price calculators, input your financial data based on this year’s income if there has been a significant income drop. This supplemental form is for reporting changes in financial circumstances to school financial aid offices. However, if your family’s income dropped this year, you may have a chance to submit a special circumstances form. Note: Tax returns may help with estimating financial aid awards you may receive based on the financial data you report to the school via the FAFSA or CSS Profile. The calculator may ask a dozen or so questions. You’ll likely also input grades, test scores, what kind of housing you’ll stay in and how many people are in your household. Financial statements are useful when questions about assets are asked. However, it is more accurate if you have financial information nearby such as a recent tax return, as well as bank and investment account statements. You can use approximate income, as nothing you input is saved data the school would use to make decisions. Go to the school website and follow instructions for what you need to input. How to Use a College Net Price Calculator For instance, when you select the University of North Texas, you’ll be redirected to a website to input your information for up to three Texas schools at once. The Net Price Calculator Center allows you to search for nearly any school with a net price calculator, and you’ll be redirected to the school or other appropriate website. You can find a school’s net price calculator in two places: on the financial aid page of the school’s website and on the Net Price Calculator Center website for the U.S. Where to Find a School’s Net Price Calculator The actual price you pay-the net price-could be hundreds to thousands of dollars lower. Then, you may get rebates and negotiate the price lower. There’s a sticker in the window that tells you the price is X dollars. The sticker price analogy comes from when you are buying a car. When you compare schools, you want to compare by the amount that you will pay in total, including what you borrow and pay back. Sometimes, schools also will subtract student loan amounts. You receive $20,000 in scholarships and grants. Say a school’s estimated cost of attendance including tuition, fees, books, room and board and other expenses is listed on its website at $60,000 per year. The sticker price is what the price would be if you got zero financial aid. The net price of a college is what you actually pay. Remember, though, that in order to be eligible for financial aid, you’ll need to fill out the Free Application for Federal Student Aid (FAFSA). Generally, the financial aid estimate is based on past year awards for a student in a similar situation. It asks students to input financial, family, location and income information to estimate potential financial aid awards. What Is a Net Price Calculator?Ī college net price calculator is an online tool the federal government requires of all schools that offer federal aid, including student loans, grants and work-study. After you narrow down your college choices by major, career services and where and how you learn best, use the net price calculators on college websites to get an idea of which colleges are affordable for your family. The cost of college should always be part of the equation in choosing one.
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