1. What is Net Price?

Net Price represents the actual amount a student and family need to pay for college after accounting for grants and scholarships. It's the true out-of-pocket cost of attendance.

2. How Does the Calculator Work?

The calculator uses the Net Price formula:

Where:

• \( NP \) — Net Price ($)
• \( COA \) — Cost of Attendance ($)
• \( Grants \) — Grant aid received ($)
• \( Scholarships \) — Scholarship awards ($)

Explanation: This calculation helps families understand the actual financial commitment required for college education after financial aid is applied.

3. Importance of Net Price Calculation

Details: Understanding net price is crucial for financial planning, comparing college costs, and making informed decisions about college affordability and student loan needs.

4. Using the Calculator

Tips: Enter the total cost of attendance, followed by grant and scholarship amounts. All values should be in dollars and represent annual costs.

5. Frequently Asked Questions (FAQ)

Q1: What is included in Cost of Attendance?
A: COA typically includes tuition, fees, room and board, books, supplies, transportation, and personal expenses.

Q2: Are loans included in net price calculation?
A: No, net price only considers grants and scholarships - funds that don't need to be repaid. Loans are additional costs.

Q3: How accurate is this calculator?
A: This provides a basic estimate. For precise figures, consult the college's financial aid office and use their official net price calculator.

Q4: When should I calculate net price?
A: Calculate when comparing colleges, before accepting financial aid packages, and during annual financial planning.

Q5: Can net price be negative?
A: Yes, if grants and scholarships exceed the cost of attendance, indicating the student may receive refunds for other expenses.