What is a net price calculator and why is it needed 
                      Welcome To 
Net Price Calculator
What is a net price calculator and why is it needed?
Fostering informed financial decisions through cost transparency in university 
education According to a study conducted by Michael and Robert in 2008, the cost of 
college is an essential consideration for students and their parents when choosing an 
institution. The cost of education, in particular, is a deciding factor for students from 
economically poor backgrounds. Only 60% of students complete a college degree 
within six years of beginning their studies. As a result, the federal government 
requires that all academic institutions that offer federal student aid provide an online 
net price calculator (NPC) to assist families in making informed college decisions for 
their children based on their financial circumstances.
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The federal government provides a framework for a net price calculator to 
assist families in determining their education affordability. Families can use 
that calculator to figure out the difference between the net and sticker 
prices. The sticker price is the amount that the college advertises on its 
website, but the net price is the amount that families are expected to pay 
once financial/scholarship aid is taken into consideration. In brief, a net 
price calculator promotes cost transparency and aids families in making 
the best financial decisions possible. The federal net price calculator 
provides a framework for calculating the net cost of attendance, but it has 
some limitations that admissions departments would wish to avoid. 
Instead, Virtue Analytics works with colleges to construct a net price 
calculator that can be easily integrated with the college website.
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Why do colleges need a net price calculator?
Prior to the invention of net price calculators, students had no idea how much money 
they would have to pay out of pocket until they applied for admission, applied for 
financial assistance, and received an award letter. The expense of education is a 
major consideration for many students and parents. As a result, the federal 
government mandated in 2011 that every college and university offering federal 
student aid have an online net price calculator. Students and families are more likely 
to apply and enroll when they have a nice and informed experience with a net
price calculator. The Net Price Calculator also assists students and families in 
becoming more financially literate and cost-transparent, which aids in better college 
financial planning.
Auto-fill Free Demo of Virtue’s Intelligent Net Price Calculator
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Why Virtue’s net price calculator?
1. Accurate and up-to-date – Virtue provides active support with zero downtime and   
    helps to keep the calculator up-to-date with scholarship calculations.
2. Adaptive survey form: Assessing the financial resources to calculate the estimated   
    family contribution can be lengthy. Virtue’s net price calculator calculates the family
    contribution in a fraction of seconds using an adaptive questionnaire 3. The Virtue   
    net price calculator shows a low bounce rate and a high completion rate.
4. Virtue‘s NPC collects the student data and can be leveraged as a lead generation  
    tool.
5. The student’s leads are collected and processed on US servers.
6. Universities receive periodic leads via email and are backed by an interactive 
    dashboard where the admissions office can study the student interests and develop 
    a data-backed student engagement program.
7. NPC can work as a vehicle of social change by bringing cost transparency and  
    helping families with budgeting, which ultimately fosters intergenerational mobility 
    and financial security for disadvantaged families.
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Your data is safe with Virtue Analytics.
Virtue Analytics promises its clients and users the highest level of privacy protection. 
The data collected from students is stored in disparate data silos and cannot be 
replicated or misused by any third party. This is in contrast to free net price calculators 
available elsewhere, which misuse the student's data. Virtue stands for its 
professional ethics, which ensures that its users' data is completely secure. Virtue 
complies with the Privacy Act of 1974 as well as the Federal Trade Commission Act,
which establishes a code of fair information practices that govern the collection, 
maintenance, use, and dissemination of information about individuals stored in record 
systems by federal agencies in the United States.
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