LEXINGTON - Washington and Lee University is using a new tool that is aimed to give families a more accurate way to gauge costs while factoring in financial aid.
“As a key part of our efforts to promote Washington and Lee’s affordability, we are pleased to include MyinTuition as a secure, efficient, informative tool for prospective students and families to estimate their expected college costs,” said James Kaster, Washington and Lee’s director of financial aid.
In 2011, the federal government mandated that colleges and universities offer a net-price calculator to provide prospective students with an estimate of the cost of enrollment and financial aid possibilities.
“Often families look at the sticker price and walk away without thinking about financial aid possibilities because the assumption is that the cost is too high,” said Phillip B. Levine, an economics professor at Wellesley College who developed MyinTuition."
The calculator takes the average user about three minutes to complete and gives parents a breakdown of the estimated costs paid by the family, work-study and loan estimates, in addition to grant assistance provided by the institution.
You can learn more about the tool by clicking here.
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