This resource is a tool provided by the institution that estimates the cost of attending after factoring in financial aid such as grants and scholarships. It requests detailed information about a student’s and their family’s financial situation, including income, assets, and tax information, and uses this data to project an individualized financial aid package. The result is an estimated “net price,” which is the total cost of attendance minus the anticipated grant and scholarship aid.
The availability of such a tool is crucial for prospective students and their families as they navigate the complex landscape of higher education financing. It offers a preliminary understanding of the potential financial burden, assisting in informed decision-making regarding college affordability. This information can guide families in planning their finances, exploring additional aid opportunities, or considering alternative educational paths. Historically, the rising cost of higher education has made these tools essential for accessibility and transparency in the college application process.