Posted Date:May 28, 2013
|Author:||Brenda Dann-Messier, Delegated the Authority to Perform the Functions and Duties of the Assistant Secretary for Postsecondary Education|
Subject: Net Price Calculator Template Update and Updated Frequently Asked Questions (FAQs)
In accordance with section 132(h) of the Higher Education Act of 1965, as amended, each postsecondary institution that participates in the Title IV federal student aid programs must post a net price calculator on its website that uses institutional data to provide estimated net price information to current and prospective students and their families based on a student’s individual circumstances. This calculator must allow students to calculate an estimated net price of attendance at an institution (defined as cost of attendance minus grant and scholarship aid) based on what similar students paid in a previous year. The net price calculator is required for all Title IV institutions that enroll full-time, first-time degree- or certificate-seeking undergraduate students.
Institutions may meet this requirement by using the U.S. Department of Education’s (the Department) Net Price Calculator template or by developing their own customized calculator that includes, at a minimum, the same elements as the Department’s template.
As noted in GEN-13-07, the 2011-2012 version of the Department’s Net Price Calculator template is currently available at the Department’s Net Price Calculator Information Center (http://nces.ed.gov/ipeds/resource/net_price_calculator.asp). Other materials such as the 2011-12 template Quick Start Guide, source code, and the Expected Family Contribution (EFC) tables used in the template are also available.
Additionally, we have recently updated the FAQs regarding the Net Price Calculator requirement. Please visit the Net Price Calculator Information Center to review the most recent guidance.
If you have any questions about the net price calculator template, please contact the Net Price Calculator Help Desk at 877/299-3593. You may also e-mail email@example.com for assistance.