According to the research published by Michael and Robert in 2008, the cost of college is an essential consideration for students and their parents when choosing an institution.
The cost of education, in particular, is a deciding factor for students from economically poor backgrounds. Only 60% of students complete a college degree within six years of beginning their studies.
In order to make college affordable for everyone, the government introduced the net price calculator
What is Net Price Calculator?
The net price calculator is a tool that allows students and their families to estimate the cost of attending a particular college. This includes both the direct costs (tuition and fees) and the indirect costs (room and board, books and supplies, transportation, and other personal expenses).
To use the Net Price Calculator, students will need to provide some information about their family's finances and academic record.
How is it beneficial for Universities & Colleges?
Net Price Calculator is a great tool for Colleges & Universities. By providing this tool to their students, Universities are able to help them make more informed decisions about their college education. The Net Price Calculator can help students see what their out-of-pocket expenses will be after scholarships and grants are taken into account.
In addition, the Net Price Calculator can also help Universities identify which students are most likely to need financial aid. This information can be used to target financial aid resources to those students who need it the most.
The Advantages of Having an NPC on Your Website
Improve Lead Generation
NPC on college website will encourage students to check grants and scholarships offered.
Easy-to-use Front End that is customized for prospective students and their families. Works on all networks and devices.
Better Student/ Parent Engagement
When students know exactly what they have to pay, they are more involved in the registration process.
Custom Timing Report
Set your custom timings like Daily, Weekly, Monthly, or any other custom time to get your reports. Never miss any opportunity.
With easy-to-read reports and visuals, you can gather detailed insight from candidates.
Share NPC Report
Get the calculated NPC report. Share it with your prospective students on request along with your college marketing material.
Get the customized NPC set up on your college website within 1 day.
Increase in Enrollment Yield
Using a Net Price Calculator will increase candidate interest in your institution and influence future enrollment and applications.
Help Students in Financial Planning
With clear transparency in the Cost of Attendance, Grant Money, and Out-of-pocket cost, families, and students can plan for their college financials.
Virtue Analytics helps colleges and universities to have net price calculators on their websites. It allows students and their families to find the exact out-of-pocket cost after taking out grants and scholarships.
Consult Virtue Analytics for a live demo.