NAICU - Education Department Releases Model Net Price Calculator; Two-Year Countdown for Campus Participation Begins

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Education Department Releases Model Net Price Calculator; Two-Year Countdown for Campus Participation Begins

NAICU Washington Update

November 10, 2009

The Department of Education has released its net price calculator template, designed to allow the calculation of an estimated net price at an institution. By October 29, 2011, any institution that participates in federal student aid programs must place a net price calculator on its own website. The institution may either use the model developed by the Department or its own calculator-provided that it includes the elements identified in the Department's template.

The basic formula underlying the template is that net price is the price of attendance minus grant aid. A student will enter his or her information and will receive an estimated net price of attendance based on what similar students paid in the previous year. Click here to view the Department of Education net price calculator template.

The net price calculator template was developed at a Department technical review panel in late January, which convened representatives from federal and state governments, postsecondary institutions from all sectors, and higher education associations, including NAICU.

Institutions will need a web-technical expert skilled in HTML coding and Java programming to implement the Department's template. ED has contracted with the Association of Institutional Research to develop a Webinar for colleges needing assistance. Institutions that need additional technical support can contact Ruba Nuwayhid of IT Innovative Solutions Corp, the contractor that developed the net price calculator template, at (240) 252-1707 or Ruba@inovas.net.

Contact

Gigi Jones
gigi@naicu.edu