Centre College recently launched a new tool to help prospective students and their families determine their estimated cost of attending the College. The tool offers a new calculators called MyinTuition Cost Estimator.
“Understanding college cost can be daunting,” said Kevin Lamb, director of financial aid. “We wanted to provide a way for students and their families to easily see just how affordable Centre can be for them. Our launch of the MyinTuition estimator provides that tool. Instead of making specific calculations, it provides bands of estimates. It is a first step that helps people see that Centre is affordable.”
MyinTuition, a revolutionary online tool, ensures that students and their families have quick and easy access to the information they need to make decisions about college affordability. It shows the projected cost of college once financial aid is factored in, helping students understand and plan for what college will actually cost.
This tool is used by other top universities, including Brown, Dartmouth, Georgetown, Harvard, Vanderbilt and Yale.
In three to five minutes, the MyinTuition Cost Estimator gives a quick, ballpark estimate of the cost, asking for general/intuitive financial information. This provides a range of estimated aid and cost, though not including Kentucky Educational Excellence Scholarship (KEES) estimates for in-state students. The estimator also maps information to a variety of Centre scholarships.
For a more in-depth estimate of the cost, Centre’s NetPrice Calculator asks more detailed tax and asset information and takes 10 to 15 minutes. This evaluates more specific estimated aid and cost. Taking a more rigorous approach to estimating, the calculator includes KEES scholarship estimates and provides direct options for follow-up.
According to Bob Nesmith, dean of admission and financial aid, both methods are valuable and helpful, but slightly different in purpose.
If a prospective student is trying to decide whether to apply to Centre and needs to answer the question of whether or not it’s affordable for them, Nesmith said the MyinTuition can give helpful answers more quickly than the NetPrice Calculator.
On the other hand, if a prospective student has already applied and is trying to determine an accurate and detailed projection of cost after aid, Nesmith recommends using the NetPrice Calculator.
“Cost is the single biggest barrier to students considering Centre,” said Nesmith.
“The fact is, we are affordable for many, many families; our average cost after aid is lower than the cost of many public universities. But most families don’t know their cost until relatively late in the college search process, after they have been admitted and received a financial aid award, in February or March of senior year. It’s a huge source of anxiety for families. And it prevents many students who would flourish here from even considering Centre.”
by Kerry Steinhofer
September 20, 2019