Using a net price calculator before you apply

What the calculator does

Federal law requires every college that takes part in federal student aid programs to post a net price calculator on its website. You enter details about your family, and the tool estimates the college's cost of attendance minus the grants and scholarships a student like you might receive. The college builds or configures the tool, so it reflects that college's own aid policies.

Some calculators are simple and ask only a few questions about income and family size. Others ask about assets, home equity, a parent outside the household and your grades or test scores, so they can estimate merit awards too. Colleges that use the CSS Profile often provide a more detailed calculator.

Getting a useful estimate

Use your family's most recent tax return and current account balances when you fill it in. Colleges that use the FAFSA generally look at income from two years before the award year, so a recent return gives a closer estimate. Keep your answers the same across colleges so the results can be compared.

Look for the year the calculator is based on, often shown near the start or in the results. An older tool may show last year's costs. Save or print each result with the date so you can set it beside the actual offer later.

Reading the result

The result usually lists the estimated cost of attendance, the estimated grant aid and the net price. Some also show loans or work-study, which are separate from grants. Focus on the grant estimate and the net price when you weigh one college against another.

An estimate can differ from the actual offer when your situation is complex, when income changes or when the college updates its policies. Divorced or separated parents, a family business and large swings in income are common reasons for a gap. If the actual offer comes in well below the estimate, bring the saved result to the aid office and ask what differs.