“… It asks users a series of easy-to-follow questions about citizenship status, living situation, family income, home value, mortgage balance, cash on hand, retirement plans and other investments. It also asks whether any siblings are in college. Then, using the college’s aid policies, the calculator produces an instant estimate of what the student and family might expect to pay out of pocket and what might be provided as grants, loans and work-study. The whole exercise is meant to take about three minutes.” …
Note that it is fast and easy but it’s not at all accurate if your kid has any assets in their name. Run the real full EFC calculators otherwise you’re likely in for a rude shock when your kid is admitted.
If it helps people feel a bit more confident, so they are willing to take the time to run the Net Price Calculators, then it is a good thing. But id they take these results to heart, and don’t take that next step, some will be unpleasantly surprised.