How Much Will You Actually Pay for College Based on Aid and Household Income
College tuition fees are the tuition fees that most schools list in their brochures. But a more valuable number for students (and parents) paying for college is the net price – the value after accounting for scholarships, grants, and financial aid. NPR has a new tool that will give you a net price to attend any of the 1,550 colleges in the US.
The chart is based on the Department of Education College Scorecard , which shows the average net price of each college for all students. NPR goes one step further by breaking down the net price by household income, which is an important factor in determining the amount of assistance and premiums to be provided.
One big takeaway from this tool is that for low- and middle-income families, elite private universities may be more affordable than public universities. Private schools generally offer higher discounts for low- and middle-income families.
College tuition fees are likely to be higher for higher-income households as there are fewer sources of aid and grants, but NPR notes that almost no one pays full tuition at private universities.
Of course, this is not the exact price you can expect to pay at this college, as the financial package and price will also depend on other factors, such as how much the college wants you to study.
Follow the link below to find out the net worth of colleges. If anything, it helps to reinforce your principles: you shouldn’t rule out a certain type of school – public or private – based on your family’s income.
How Much Will You Really Pay at 1550 Colleges | NPR via Billfold