We’ve known for a long time that the price that students see is not the price that students pay.  But getting the word out has been difficult.

A recent study by the College Board shows that the actual price students pay for college has been steadily decreasing for over a decade, even as sticker prices at some institutions soar to nearly $100,000 a year. The average net price — what students really pay after grants and institutional aid — has dropped to $16,510 for private, nonprofit universities this academic year. At public institutions, the numbers are even lower​.

This is good news, but here’s the catch: most families don’t know this. Many are still overwhelmed by the big sticker prices they see on college websites, especially low-income families for whom that number might feel like an instant dealbreaker. As financial aid leaders, part of our job is to help bridge the gap between perception and reality by being transparent about the real cost of college.

The Role of Communication in College Affordability

Communicating costs, from the start, is essential. The terms we use — sticker price, net price, tuition — can easily confuse families who are trying to figure out what their real bill will look like. And for low-income students, this lack of clarity can mean the difference between attending college or not.

It is important that we use words students understand and explain terms when they are confusing.  It is crucial that we are upfront about the real costs and that explain their financial options. It is on us to have tools that give families the confidence to move forward with their college plans.

Why a Good Net Price Calculator Can Make All the Difference

Enter your net price calculator.  A good NPC, one that includes not just federal grants but also state and institutional aid, allows families to get a more accurate estimate of what they will actually pay, based on their financial situation. For many low-income families, a well-designed net price calculator can show them early on that college might be more affordable than they think.

If students and families listen to the narrative in the media, and look only at the tuition page on your website, they do not see all the aid they would receive and the price that would pay - which is less expensive than it has been in 13 years.

It's Time to Change the Story

Ultimately, it’s not enough for tuition to be affordable — we have to make sure students understand what affordable really means for them. By focusing on transparency, providing clear financial aid tools, and proactively communicating about the real cost of college, we can help make higher education accessible to all students, regardless of their financial background.

We know the real story; we need to share it.

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