Cleveland, OH (PRWEB) September 15, 2011
College Planning Network is issuing a reminder of the approaching deadline for a U.S. Department of Education mandate (the Higher Education Opportunity Act) which goes into effect October 31, 2011. The Act requires every U.S. college and university to include a “Net Price Calculator” on its official school websites.
According to the DOE, one of the calculator's goals is to help parents and students estimate the amount of financial aid they could potentially receive from an institution, thereby giving families a better indication of the true “net price” of what it will cost to attend college.
These calculators, however, have three main flaws -- one of which can easily produce an inaccurate estimate of financial aid amounts for many families. (An opinion shared by the president of a firm that actually creates custom Net Price Calculators, according to a June 2010 CBS MoneyWatch.com report.)
The following report identifies the problems with Net Price Calculators on college web sites, and details what families can do to get a more realistic estimate on financial aid for their college-bound students.
Follow this link to access the full report.