Calculate Your Cost

How to Get the Best Estimate of Your College Costs

Did you know that colleges with higher sticker prices sometimes offer more financial aid? Or that colleges differ in the types of aid they offer? Below are a few tips that will help you estimate the real amount you’ll have to pay to attend the colleges you’re considering.



  • Focus on the net price - Your net price for a college is the published price for tuition and fees minus your gift aid and education tax benefits. Gift aid includes grants and scholarships but not loans or money earned through a work-study job.

  • Know the Average Net Price - The average net price of a college is what the student really pays to go to that college. The U.S. Department of Education defines average net price as follows: “An estimate of the actual cost that a student and his family need to pay in a given year to cover education expenses for the student to attend a particular school. Net price is determined by taking the institution's cost of attendance and subtracting any grants and scholarships for which the student may be eligible.”

  • Know the Average Percent of Need Met - Most colleges are not able to cover 100 percent of a student’s demonstrated financial need. You can get an idea of how much aid a college might award you and your family by checking to see what it has typically awarded other students in the past.

  • Know the Average Percent of Gift Aid - Different colleges have different ways of awarding their financial aid packages. The final award is generally divided into a combination of scholarships and grants, work-study jobs and loans. Only scholarships and grants are considered gift aid.

Focus on Net Price, Not Sticker Price

College may seem expensive. But the truth is that most students pay less than their college’s sticker price, or published price, thanks to financial aid. So instead of looking at the published price, concentrate on your net price — the real price you’ll pay for a college.

WHAT IS THE NET PRICE?

Your net price is a college’s sticker price for tuition and fees minus the grants, scholarships, and education tax benefits you receive. The net price you pay for a particular college is specific to you because it's based on your personal circumstances and the college’s financial aid policies.

WHAT IS A COLLEGE NET PRICE CALCULATOR?

A college net price calculator is a free online tool that gives you a personalized estimate of net price. Check out net price calculators for hundreds of colleges.

WHY ARE NET PRICE CALCULATORS IMPORTANT?

By providing personalized estimates, net price calculators offer a more informed way of deciding which colleges you can afford. Knowing your net price:

  • Gives you the best idea of what you’ll pay for a particular college.

  • Makes comparing colleges easier.

  • Widens your choice of colleges so you can focus on fit instead of price

HOW DO NET PRICE CALCULATORS WORK?

A college’s net price calculator asks you questions about your family’s finances and may also ask you questions about your GPA, test scores, activities, and other things that may qualify you for financial aid. It uses your answers to figure out how much money in grants and scholarships the college is likely to award you. It then subtracts that number from the full cost of attendance to estimate how much the college might really cost you.

Many net price calculators also provide information about other kinds of financial aid you might be offered. These include loans and work-study jobs.