In accordance with the Higher Education Act of 1965 (HEA), as amended on October 29, 2011, each post-secondary institution participating in the Title IV federal student aid programs is required to post a net price calculator on its website. The calculator, using institutional data, should provide estimated net price information to current and prospective students and their families based on a student’s individual circumstances.
The calculator also should allow students to calculate an estimated net price of attendance at the 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 enrolling full-time, first-time degree- or certificate-seeking undergraduate students.
Institutions may meet this requirement by using the U.S. Department of Education’s Net Price Calculator template or by developing their own customized calculator that includes, at a minimum, the same elements as the Department’s template.