Indiana State University offers prospective students the opportunity to know how much aid to expect and their personalized future cost as a way of showing its value and affordability. Aid estimates can help attract top students.
Online PR News – 02-June-2011 – – TERRE HAUTE, IN — June 2, 2011 —Indiana State University has taken the mystery out of the actual cost of college. Students and families considering Indiana State can now use a sophisticated, online net price calculator that shows prospective students, before they apply, how much financial aid to expect, and how affordable their education can be.
“While we could have met the federal government’s requirement of having a net price calculator with a very basic college cost estimator, we chose a product that is more robust, has more features, and generates an estimated family contribution that is much closer to reality,” said John E. Beacon, Indiana State’s vice president of enrollment management, marketing, and communications. “The calculator we chose is an important tool in our recruiting tool chest and is expected to help families who are considering ISU to make better informed enrollment decisions based on accurate cost estimates.”
After reviewing multiple options and vendors, Indiana State chose a custom net price calculator built, hosted, and supported by Student Aid Services, Inc., which has offices in Indianapolis and currently serves more than 360 campuses.
All 6,800 post-secondary institutions that receive federal student aid funds are required to post a net price calculator on their Web sites by October 29. Net price is an individual’s estimated education cost after subtracting merit and need-based federal, state, and institutional grants, which a student is eligible to receive, from a college’s published cost of attendance, an amount also referred to as the “sticker price.”
“Today, most families often don’t know the full cost of a student’s education until after college acceptance,” said Kathleen Dawley, president of Maguire Associates, a Concord, Mass. educational research firm. “By choosing a sophisticated calculator that goes far beyond the federal minimum cost-transparency requirements, Indiana State is making its value and affordability very clear. Earlier in their planning process, students will be able to make well-informed choices.”
Indiana State’s net price calculator accurately estimates merit and need-based aid, work-study eligibility, Post-9/11 GI Bill and Yellow Ribbon military benefits, and federal education loans so students and their families have a clearer picture of their specific, out-of-pocket costs, Beacon said.
Unique features of Indiana State’s calculator include a personalized affordability analysis that projects monthly education loan payments after graduation and instant translation of the NPC into Spanish.
“A great feature of Student Aid Services’ calculator is families can plug in a variety of variables and create a number of realistic options to help effectively meet the cost of attending college,” Beacon said. “It’s simply a more comprehensive product than others we considered.”
Taking full advantage of advanced net price calculator technology, Indiana State is the first public university to offer students personalized notification of eligibility for its Honors Program detailing features, benefits, and cost data, said Jeff Whorley, president of Student Aid Services.
“The Honors Program at Indiana State is a tremendous educational value and the challenge has been how to get the word out to eligible students,” Whorley said. “The ‘expected honors award feature’ of the university’s new calculator is a big step toward attracting academically talented and motivated students to the program.”
Indiana State’s net price calculator takes approximately 10 minutes to use and requires users to provide basic academic and financial information. Students can email or print their cost estimate for easy review and immediately arrange a campus visit, talk with a financial aid advisor, or apply.
About Indiana State University
Indiana State University is a comprehensive state supported institution. Its 11,500 students benefit from a tradition of strong undergraduate and graduate education with a focus on community and public service. Indiana State integrates teaching, research, and creative activity in an engaging, challenging, and supportive learning environment to prepare productive citizens for Indiana and the world.
About Student Aid Services, Inc.
Student Aid Services, Inc. is the nation’s leading net price calculator provider with more than 360 campus NPCs in use or being built nationwide. The company’s advanced technology – the ThinkAhead™ Net Price Calculator – is customized to post-secondary institutions’ needs and budget so those colleges and universities can offer prospective and current students accurate aid eligibility, net price, and out-of-pocket cost estimates. Student Aid Services is a private company with offices in Indianapolis, Indiana and Sacramento, California. www.studentaidservices.com
© Student Aid Services, Inc., 2011. All Rights Reserved. Student Aid Services and ThinkAhead are trademarks of Student Aid Services, Inc., in the United States, other countries, or both. Other company, product, or service names may be trademarks or service marks of others.
Media Relations Director, Indiana State University
Mary A. C. Fallon
Communications Consultant, Student Aid Services, Inc.