Net Price Calculator Janet Dodson NSLP

Todays Focus The Legislation Purpose Definition Calculator Requirements Web Net Price Calculator Tips and Resources

The Legislation Signed into law as a part of the Higher Educational Opportunity Act Requires every school have a net price calculator on its website

Purpose P.L , sec. 132 (h) (1) To help students, families, and consumers estimate the net price of higher education Developed allowing interested individuals to determine an estimate of a students individual net price at a particular school

Definition Schools price of attendance* Total need-based and merit-based federal, state, and institutional grant aid awarded to FTFT students** Number of students receiving above grant aid * Price of attendance means average annual cost of tuition and fees, room and board, books and supplies, and transportation ** Full time, full time student enrollment

Calculator Requirements Department of Education provided a calculator template: The clock is ticking – all schools must have a calculator on their institutional website May use the Departments calculator or develop their own

Calculator Requirements Representative year Predominant academic calendar Institutionally controlled housing Housing restrictions for Full-Time, First- Time undergraduates Tuition based on residency status

Disclosure verbiage should include: –The calculator does not represent: a final determination a financial award a final net price –The calculator is based on last years: price of attendance financial aid provided Calculator Requirements

Calculation Requirements The information is not binding on the Secretary of Education, the school, or the state Reference to FAFSA and its website

Calculation Requirements Caveats: –Not all students receive financial aid –Students may also be eligible for student loans and work-study –Private funding not included –Explain exclusions, assumptions, ranges and levels

Net Price Calculator The official web address is:

Web based Net Price Calculator 1.Does your institution offer institutionally controlled housing (either on or off campus)? Yes or No 2. If yes, are all full-time, first-time degree/certificate seeking students required to live on campus or in institutionally- controlled housing? Yes or No 3. Does your institution charge different tuition for in-district, in-state, or out-of-state students? Yes or No

Tips and Resources Keep the template simple Recognize customization needs and wants Share responsibility and knowledge Develop a timeline and responsibility document Determine where to post and advertise the calculator Craft your explanations/caveats in clear language

Tips and Resources ndex.htmlhttp:// ndex.html Higher Education Act, as amended Section 32. Transparency in College Tuition for Consumers Higher Education Opportunity Act of 2008 P.L ; Section 132 (h) DCL GEN – 08-12, page 33

Lets Recap The Legislation Purpose Definition Calculator Requirements Web Net Price Calculator Tips and Resources

Need more information Contact Janet Dodson, NSLP or by at