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Last week, we introduced the College Board’s BigFuture college search tool to help you identify schools that meet your criteria.
The BigFuture site is great, but it only shares averages. So, how do you estimate what a school will cost you? That’s where net price calculators come into play.
Net price is your cost after grants and scholarships (the money that doesn’t have to be repaid). Sometimes, schools with higher sticker prices may actually be more affordable because of the grants and scholarships they can offer. By looking at net price, you’ll discover that what matters isn’t how much a school costs, but how much a school costs you.
To get an estimate of your net price, use your school’s net price calculator (NPC). The easiest way to find a school’s NPC is to go to the school’s website and search for “net price calculator.”
Each school’s NPC asks you to provide some information and then calculates a rough estimate of your financial aid offer. Your net price will vary—sometimes significantly—from one school to another, not only because schools cost different amounts but also because schools have different amounts of financial aid available.
It’s a great idea to use the NPCs of schools you’re considering to get a sense of each school’s affordability, but keep in mind that the NPC only provides a rough estimate. Never make a decision based solely on the NPC. You won’t know your actual net price for a particular school until you’re admitted and receive your official financial aid offer.
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