The Net Price Calculator: Template or Customize?
By fall 2011, Title IV institutions are required by law to provide a net price calculator (NPC) that will give student applicants opportunity to understand the difference between university sticker price and net price, and to receive an estimate of potential aid eligibility. The US Department of Education has released an NPC template that colleges and universities can use — but institutions also have the option to develop their own, customized solutions. We asked Mary Sapp, Assistant Vice President of Planning and Institutional Research at the University of Miami, who has chaired two Technical Review Panels for the National Center for Education Statistics (NCES) addressing issues related to net price, for advice on how institutions can determine whether to use the NCES template or customize their own NPC. Check for Variance The key, now that the template is available, Sapp suggests, is to do a tentative analysis of your own institutional data in order to see how those data fit into the template. “The template is very well-designed, and it comes across as being very easy to do. You just generate a table with the medians, and write in a couple of caveats, and poof, you’re done. But because of this, you […]

