Colleges Should Start Planning Now for Net Price Calculators

College officials need to begin planning now to comply with a new federal requirement that they post on their Web sites within roughly two years the net price to attend their institutions, panelists said at a meeting of institutional researchers here this week. 'This is going to end up being more complex as you get into it than people realize,' Mary M. Sapp, assistant vice president for planning and institutional research at the University of Miami, told members of the Association for Institutional Research. Congress mandated the new feature last year to give prospective students a clear idea of the actual cost to attend each institution. The net figure will be derived from total cost - tuition, fees, room, board, and other expenses - minus average aid from all sources of grants (but not loans). [Read More (Subscription Required)]

Think Ahead LLC, a developer of college financial planning software, had developed a White Paper on the Net Price Calculators, available here.