INTRODUCTORY ADVICE ABOUT FINANCIAL AID (continued)
If you are not happy with your aid package, many schools offer an appeals process. We can help you prepare for the appeal. Use the Net Price Calculator. In October 2011, College Board introduced The Net Price Calculator (NPC) to help families estimate the actual cost, or “net price,” to attend a particular college or university. Fill out a NPC at each school; NEVER assume awards will be the same even at schools with similar policies. The NPC is most useful to parents with W-2s and less useful for divorced/separated families or families that own a business. Writes the College Board: “Net price is the difference between the ‘sticker’ price (full cost) to attend a specific college, minus any grants and scholarships for which you may be eligible. Sticker price includes direct charges (tuition and fees, room and board) and indirect costs (books and supplies, transportation and personal expenses)… “Prospective students can enter financial and academic data into a NPC, which will be available on every college and university website, and get a customized estimate of what they will have to pay. It is possible that a student’s net cost could be lower at a college with a high sticker price or higher at a college with a low sticker price. One of the goals of the net price calculator is to allow students to find that some colleges they thought were unaffordable are within their financial reach… “Net price calculators are not a silver bullet but they represent a significant step toward helping students and their families make informed decisions about college by providing early estimates of financial aid…” Prior Prior In the fall of 2016, the federal government implemented a major and welcome change in the process for applying for financial aid. Nicknamed “Prior Prior,” the process allows families to report information from an earlier tax year, thereby making the process more manageable and less stressful.
- 63 -
Made with FlippingBook flipbook maker