The U.S. Department of Education has released a template that colleges can use to create the net-price calculators they are required to offer on their Web sites in two years.
The calculators, which are required under a provision of the Higher Education Opportunity Act, will allow prospective students and their families to estimate their personal out-of-pocket expenses at a particular college.
Colleges have the option of using the department’s template, which was released last week, or developing their own as long as it incorporates, at a minimum, the data elements used in the template.
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