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Net Price Calculator Janet Dodson NSLP. Todays Focus The Legislation Purpose Definition Calculator Requirements Web Net Price Calculator Tips and Resources.

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Presentation on theme: "Net Price Calculator Janet Dodson NSLP. Todays Focus The Legislation Purpose Definition Calculator Requirements Web Net Price Calculator Tips and Resources."— Presentation transcript:

1 Net Price Calculator Janet Dodson NSLP

2 Todays Focus The Legislation Purpose Definition Calculator Requirements Web Net Price Calculator Tips and Resources

3 The Legislation Signed into law as a part of the Higher Educational Opportunity Act Requires every school have a net price calculator on its website

4 Purpose P.L , sec. 132 (h) (1) To help students, families, and consumers estimate the net price of higher education Developed allowing interested individuals to determine an estimate of a students individual net price at a particular school

5 Definition Schools price of attendance* Total need-based and merit-based federal, state, and institutional grant aid awarded to FTFT students** Number of students receiving above grant aid * Price of attendance means average annual cost of tuition and fees, room and board, books and supplies, and transportation ** Full time, full time student enrollment

6 Calculator Requirements Department of Education provided a calculator template: The clock is ticking – all schools must have a calculator on their institutional website May use the Departments calculator or develop their own

7 Calculator Requirements Representative year Predominant academic calendar Institutionally controlled housing Housing restrictions for Full-Time, First- Time undergraduates Tuition based on residency status

8 Disclosure verbiage should include: –The calculator does not represent: a final determination a financial award a final net price –The calculator is based on last years: price of attendance financial aid provided Calculator Requirements

9 Calculation Requirements The information is not binding on the Secretary of Education, the school, or the state Reference to FAFSA and its website

10 Calculation Requirements Caveats: –Not all students receive financial aid –Students may also be eligible for student loans and work-study –Private funding not included –Explain exclusions, assumptions, ranges and levels

11 Net Price Calculator The official web address is:

12 Web based Net Price Calculator 1.Does your institution offer institutionally controlled housing (either on or off campus)? Yes or No 2. If yes, are all full-time, first-time degree/certificate seeking students required to live on campus or in institutionally- controlled housing? Yes or No 3. Does your institution charge different tuition for in-district, in-state, or out-of-state students? Yes or No

13 Tips and Resources Keep the template simple Recognize customization needs and wants Share responsibility and knowledge Develop a timeline and responsibility document Determine where to post and advertise the calculator Craft your explanations/caveats in clear language

14 Tips and Resources ndex.htmlhttp://www.ed.gov/policy/highered/leg/hea08/i ndex.html Higher Education Act, as amended Section 32. Transparency in College Tuition for Consumers Higher Education Opportunity Act of 2008 P.L ; Section 132 (h) DCL GEN – 08-12, page 33

15 Lets Recap The Legislation Purpose Definition Calculator Requirements Web Net Price Calculator Tips and Resources

16 Need more information Contact Janet Dodson, NSLP or by at


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