Here at Scholarships.com, we understand that trying to figure out how much a college education will actually cost you and your family is pretty confusing. With everything that goes into your financial aid package – grants, loans, scholarships, etc. – the real cost of a college education is muddled in there…somewhere. But fear, not college bound students! All that’s about to change thanks to a mandate by the federal government: All colleges and universities receiving Title IV federal student aid must have net price calculators by October 29th.
According to U.S. News and World Report, the U.S. Department of Education instated the mandate in order to “provide a clearer view of the difference between the total cost of tuition and fees – commonly referred to as sticker price – and the net price, an estimate of the cost subtracting scholarships and grants.” Most students generally receive some institutional aid so the better they understand how much an institution is offering as whole, the better prepared they are to compare the financial aid packages offered by different schools.
What do you think of the federally implemented net price calculators? Do you think it will be an essential piece of the funding your college education puzzle?
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