"When it last overhauled the Higher Education Act in 2008, Congress required that colleges make disclosures on their websites about the actual net price students would pay if they enrolled on campus," Inside Higher Ed reports.

"Colleges were supposed to clearly display tools called net price calculators that would show students total costs after subtracting grants and scholarships and factoring in students' family incomes. The idea behind the requirement was that many would-be students see only college sticker prices and don't realize how much aid they may be able to obtain.

But many four-year institutions are failing to meet federal standards for their disclosures more than a decade later, according to a study released today by the University of Pennsylvania Graduate School of Education.

... Justin Draeger, president and CEO of the National Association of Student Financial Aid Administrators, said there has always been skepticism at some colleges about the usefulness of a net price calculator. But others have embraced it as a vital consumer tool. The difference can depend on how much an institution uses tuition discounting, he said.

Draeger said no consumer tool should be seen as a panacea but the price calculator is useful for many students who do make use of it.

'For students who pay attention to it, I'm sure it's helpful in making college-going decisions,' he said. 'And we want schools to be in compliance with federal requirements.'"

NASFAA's "Notable Headlines" section highlights media coverage of financial aid to help members stay up to date with the latest news. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented.

Publication Date: 3/28/2019