By Heather Dondis
Director of College Placement, Lakehill Preparatory School
This fall, at the National Association for College Admission Counseling, I attended a workshop on the new federally mandated Cost of Attendance Calculators.
By the end of October 2011, all colleges and universities are required to post a Net Price Calculator on their websites. This is to help families estimate what they will be expected to pay. Families with children of all ages are able to use the calculators for college planning purposes.
In theory, these calculators are a great way to plan for costs ahead associated with a college education. They are designed to make many families realize that higher education is within their reach financially. Please note, though, that it is up to each institution to decide what information to collect. Typically, the more information a person is asked to provide, the more detailed the estimate.
Also, please note that these cost calculators do not account for some scholarships that colleges award such as talent and leadership based scholarships. These cost calculators are to be used as a guideline only and not as a method to eliminate colleges where additional scholarship funding may exist.
An example of a net price Calculator can be found on the College Board website: http://www.collegeboard.com/