What Is Net Price Calculator ?

What Is Net Price Calculator ?

A net price calculator (NPC) is a tool provided by colleges and universities to estimate the total cost of attendance—including tuition, fees, room and board, books and supplies, and other related expenses—minus any scholarships or grants a student may receive.
The NPC is designed to give students a more personalized estimate of their college costs, as well as an understanding of what types of financial aid might be available to them.

 

What does a net price calculator do ?

A net price calculator is a tool that can help students estimate the cost of attending college. This includes tuition, fees, room and board, and other expenses. By inputting information about their family's finances and academic record, students can get an estimate of the amount of financial aid that they may be eligible for. This can help students make informed decisions about which college to attend.

 

Why do you need a Net Price Calculator?

Prior to the invention of net price calculators, students had no idea how much money they would have to pay out of pocket until they applied for admission, applied for financial assistance, and received an award letter. The expense of education is a major consideration for many students and parents. As a result, the federal government mandated in 2011 that every college and university offering federal student aid have an online net price calculator. Students and families are more likely to apply and enroll when they have a nice and informed experience with a net price calculator.

 

The Net Price Calculator also assists students and families in becoming more financially literate and cost-transparent, which aids in better college financial planning.

 

How Net Price Calculator is beneficial for Universities & Colleges ?

This tool is beneficial for universities because it allows them to provide an accurate estimate of the cost of attendance to the students and their families.

When candidates have a positive and insightful experience using a net price calculator, they are more likely to apply and enroll at your institution and help you improve the NTR.

 

Why Virtue’s net price calculator?

 

Accurate and up-to-date — Virtue provides active support with no downtime and assists in keeping the scholarship calculator up-to-date.Adaptive survey form: It can take a long time to assess financial resources in order to compute the estimated family contribution. Virtue's net price calculator determines the family contribution in a fraction of a second using an adaptive questionnaire.The Virtue net price calculator shows a low bounce rate and a high completion rate.Virtue's NPC collects student information and can be used to generate leads.The student’s leads are collected and processed on US servers.Universities receive periodic leads via email and are backed by an interactive dashboard where they can study student interests.NPC can work as a vehicle of social change by bringing cost transparency and helping families with budgeting, which ultimately fosters intergenerational mobility and financial security for disadvantaged families.

 

Your data is safe with Virtue Analytics.

 

Virtue Analytics promises its clients and users the highest level of privacy protection. The data collected from students is stored in disparate data silos and cannot be replicated or misused by any third party. This is in contrast to free net price calculators available elsewhere, which misuse the student's data. Virtue stands for its professional ethics, which ensures that its users' data is completely secure.

 

Virtue complies with the Privacy Act of 1974 as well as the Federal Trade Commission Act, which establishes a code of fair information practices that governs the collection, maintenance, use, and dissemination of information about individuals stored in record systems by federal agencies in the United States.

 

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