University adds net price calculator to website
11:08 a.m., October 28, 2011 — The University of Delaware added a net price calculator tool, which can be used by prospective students and their families to estimate how much they will pay for a UD education, on its website. Calculator results will include the amount and types of financial aid students could qualify for if they enroll at UD as full-time freshmen.
The net price calculator, which can be found on the UD homepage, is mandatory for post-secondary institutions by October 29, in accordance with the Higher Education Opportunities Act 2008.
As it neared time for the procession to open the University of Delaware Commencement Ceremonies, graduate students and faculty members shared their feelings about what the event means to them.
It was a day of triumph, cheers and collective relief as more than 160 students from 21 countries participated in the University of Delaware’s Hooding Doctoral Convocation held Friday morning on The Green.
“The University of Delaware fully agrees with the intent of the law, which is to make the funding of a college education as transparent as possible,” said Louis L. Hirsh, director of admissions at UD. .
The purpose of the Net Price Calculator is to provide students with a more realistic assessment of the true cost of their post-secondary education.
The calculator will ask families to provide financial and academic information in order to receive estimated eligibility for financial aid based on need and merit. For best results, said Melissa J. Stone, UD’s director of student financial services, be sure to use accurate and complete information when using UD’s net price calculator.
“Our goal was to provide a user-friendly tool that collects the data needed to estimate a family’s out-of-pocket expenses so they can make informed decisions about college affordability,” Stone said.
An additional feature offered to families is an Affordability Scenario Planner to educate prospective students on the longer-term financial impact of borrowing decisions to meet education expenses.
Those who use the Net Price Calculator are encouraged to keep in mind that no student ever pays the full cost of their college education. “In an important sense,” Hirsh said, “every UD student’s education is subsidized, and part of that subsidization comes from the generosity of alumni, friends, and other donors who have donated to the University so that the next generation of UD students can enjoy the same benefits they have enjoyed.”
The cost of a UD education for in-state students is further offset by state support for the university. Moreover, through its Commitment to Delawaresthe University meets Delawares’ entire demonstrated financial need—up to the full cost of tuition, room and board, books, and fees—and caps their debt upon graduation.
University officials note that there are limitations to the net price calculator results. For example, final merit-based scholarship decisions—like admissions decisions—are not made mechanically by looking solely at grade point averages or standardized test scores.
“Unfortunately, what a computerized net price calculator cannot take into consideration are nuances such as the rigor of our applicants’ high schools and high school programs, the trend of their grades, the extent of their out-of-class achievements and honors, and what we can infer about them by reading their letters of recommendation and admissions essays,” Hirsh said. “That’s why we urge all students who are achieving outstanding scholars to submit an application for admission so that we may consider them for scholarships, as well as need-based awards. Due to these nuances, there will be students who qualify for merit based awards that might not be reflected in a net award calculator. »
Conversely, it is also possible that a student may see a higher estimated merit-based award on the Net Price Calculator than would actually be offered.
The figure that students arrive at with the Net Price Calculator, even using the most accurate and comprehensive information, is not a quote but an estimate. Neither tuition fees nor scholarships are static. For this reason, UD will have disclaimers in several places on the Net Price Calculator web pages to make it clear that these are estimates which may vary based on several factors including, but not limited to the student file.
Additionally, Net Price Calculator estimates are based on current year applicants and costs. University officials are unsure how the pool of UD applicants might change from year to year, which would impact admissions and scholarship decisions. Detailed information on admissions practices, including application deadlines, can be found on this siteand information about financial aid resources, such as student loans, are available at Student Financial Services Site.
“We believe we have an encouraging story to share with families,” Hirsh said. “The Commitment to Delawares makes a UD education affordable for a large number of Delaware families, and for out-of-state students, we believe UD really is “smart money,” especially when you factor in quality of the education we provide and the opportunities that await students after they graduate from UD. »
The University plans to host a discussion night in November for parents and families of prospective students to further explain the net price calculator as well as scholarships and financial aid at UD.
Tips for using UD Net Price Calculator
• Good info inside, good info out. For best results, be sure to use accurate and complete information when using the UD NPC.
• inexact science. The figure you arrive at, even using the most accurate and comprehensive information, is not a quote but an estimate. And, as stated in the article above, neither tuition fees nor scholarship aid are static. Things will change.
Article by Neil Thomas