The FAFSA delays have led many schools to turn to their net price calculator in order to deliver accurate estimates to students.  And we agree - NPCs are a great way to solve a big problem quickly. But the best part is actually that a good NPC will do more than get us out of a crisis; a good NPC has long term benefits.

Here are just a few:

Boosts in Enrollment 

Net Price Calculators (NPCs) enhance college enrollment by offering transparent and personalized estimates of tuition and potential financial aid. This clarity enables prospective students to make informed decisions, increasing the likelihood of application completion and enrollment. NPCs are particularly effective in reaching underrepresented and economically disadvantaged students, helping to ensure that financial barriers do not deter their educational pursuits.

Strengthened Financial Planning

NPCs are more than just tools for immediate cost estimation; they play a crucial role in long-term financial planning for students and families. By providing early insights into the potential costs of college, NPCs help families plan their finances well in advance, reducing the stress associated with funding higher education. This foresight allows students to explore additional financial avenues such as scholarships, grants, and savings plans early in their college search process.

Better Decisions

NPCs contribute to more informed enrollment decisions by giving prospective students a clearer understanding of what they can afford. This transparency helps prevent the shock of unexpected college costs after admission, which can lead to higher retention rates as students are less likely to drop out due to financial strain. Colleges also benefit from attracting students who are more likely to stay and succeed, enhancing the institution's reputation and financial stability.

Building Trust with Prospective Students

By offering honest and detailed financial estimates, NPCs build trust between institutions and prospective students. This trust is crucial for attracting and retaining students who feel confident that the college is supportive and transparent about costs. As trust grows, so does the likelihood of students choosing and recommending the institution, bolstering the college’s image as student-friendly and forthright. Increased trust also encourages students to reach out to a college to learn more – and modern NPCs can provide customizable next steps to make the outreach even easier for prospective students. 

Supporting Diversity and Inclusion 

NPCs that are accessible, multilingual, and mobile-friendly support diversity and inclusion efforts by reaching a broader range of students from various backgrounds. Ensuring that all students, regardless of their technological resources or primary language, can access these tools is essential for promoting equitable access to higher education. This inclusivity strengthens the educational community and reflects the institution's commitment to supporting all students equally.

Curious how else an NPC can help now and later? Download our latest whitepaper here.

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