<p>Article in Times yesterday about study showing wide variations in Net Price Calculations. I didn't know that a Federal law mandated that colleges post a Net Price Calculator on their web pages to bring "transparency" to awards, and net price. From the study:</p>
<p>"Last year, the Institute for College Access and Success, a nonpartisan research and advocacy group, conducted an analysis of net price calculators posted by 16 colleges. The study found wide variation in quality and clarity. Some calculators were prominently placed on the college Web sites and made it easy for prospective applicants to get understandable answers about the net cost of an education. Others were buried deep in the sites and required detailed personal financial information that students would not have readily available.</p>
<p>"Still others include invasive and unnecessary questions like a students contact information or religion that could scare some students away. This needs to change if the devices are to serve their intended purpose."</p>
<p><a href="http://www.nytimes.com/2012/02/26/opinion/sunday/comparison-shopping-for-college-tuition.html?_r=1&scp=1&sq=net%20price%20calculator&st=cse%5B/url%5D">http://www.nytimes.com/2012/02/26/opinion/sunday/comparison-shopping-for-college-tuition.html?_r=1&scp=1&sq=net%20price%20calculator&st=cse</a></p>
<p>The article also mentions that the "Department of Education has created a helpful feature on its College Navigator site that allows students to sort colleges in terms of average net price."</p>
<p>College</a> Navigator - National Center for Education Statistics</p>
<p>The feds are developing a college value index, which will list colleges in terms of bang for the buck.</p>
<p>Last year a white paper by Student Aid Services, Inc. provided an in-depth analysis about the shortfalls of the federal NPC template. Basically it showed that tests of 145,000 real student profiles showed the federal template to be inaccurate more than half the time - typically showing colleges as more expensive than they are. The federal template is based on two-year-old aid award data and uses averages. However more than 1,500 colleges and post-secondary schools provided NPCs offering greater accuracy and transparency because they are either custom built or home grown using current and detailed aid award formulas and the specifics of an individual’s academic and financial circumstances to determine aid eligibility, net price and out-of-pocket costs. How’s a consumer to know? Check the number of questions asked. The most reliable and accurate NPCs ask 30 to 40 questions - which only takes about 10 minutes to answer - to give you real insight into how to pay for college.</p>
<p>“Still others include invasive and unnecessary questions — like a student’s contact information or religion — that could scare some students away. This needs to change if the devices are to serve their intended purpose.”</p>
<p>While I can see that some might feel that asking one’s religion is invasive, but some scholarships are based on that. If a Lutheran college will consider a Lutheran student for a scholarship, then it makes sense to ask. However, maybe instead of asking “What religion are you,” the NPC could ask, “Are you a Lutheran who wants to be considered for a church-based scholarship?”</p>
<p>Good point Mom2. I will be really interested next month if there are anecdotal posts from parents and students how their true costs really aligned with the NPC. I’ve been playing with them based on what colleges cost when my other two went through and for me a few for lower but they weren’t that far off. I feel that anything plus or minus 10% isn’t too bad…and I always assume my total costs could be plus or minus 10% at the end of the day.</p>
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<p>The Forbes rankings say they take this into account in their rankings. YMMV.</p>
<p>[America’s</a> Best Colleges List - Forbes](<a href=“Forbes America's Top Colleges List 2023”>Forbes America's Top Colleges List 2023)</p>