Is Net Price Calculator Accurate?

Paying for College
1

Hello,

I recently used Vanderbilt University’s net price calculator, and it stated that my family has an extremely low EFC. Are theses numbers accurate? I would like to apply early decision because I absolutely love Vanderbilt. It is my dream to attend here! I entered in every number exactly. Could these numbers change significantly or just slightly vary? I do not want to apply early decision and then find out the financial aid is not as much as the net price calculator said I would receive.
Thanks!

2

Well…clearly, you aren’t a senior now if you want to apply ED.

The net price calculator for Vandy is set now for students who will be freshmen fall 2016. Policies could,change between now and a year from now. I would suggest that you do the NPC again in August.

And really…find a few dreams. If you are very low incime, it might be better for you to be able to compare net costs amongst a bunch of colleges. If you apply ED, you will have Vandy’s offer ONLY and you will need to make a decision.

Vandy’s offer might be the the best…but it could,be the lowest amongst a variety of schools.

3

If your taxes are relatively simple (normal income, no home business, no large assets) then the NPCs tend to be accurate.

4

At its info sessions/tours, Vandy admissions folks state very strongly that their NPC is accurate within a few percent of what an applicants financial aid package will be, and they strongly state that you should not apply ED if you know you cannot afford the NPC results.
Other schools NPC’s can vary. If you see one with “ranges” of incomes/brackets of income, beware, it is not accurate (American for 2016 applicants is an example, I recall the highest bracket for income was “> $99,000” .

5

Sounds like you’ll be graduating 2017 at the earliest. Run the NPC again in the autumn before ED deadlines.

Also, if you really must have a FA package that covers the great majority of your college costs:

  1. Apply RD to all to compare FA packages
  2. Apply to 2-3 matches and safeties that are a fit for you (Vanderbilt is a reach for almost everyone). They are more likely to offer more substantial FA.

Students get fixated on elite colleges when in fact the quality of education and ultimate career outcomes are more dependent on what you put in to your education. There are millions of examples of graduates of lesser know institutions who had highly successful lucrative careers.

6

Thank you guys so much! And I am graduating in 2017.