Tools to Gauge College Costs and Returns

US News

Net price calculators: Every college and university has a calculator online that allows prospective college students and their families to see what a particular institution might cost them. Using a family's own financial information—and, sometimes, a student's academic profile—the government-mandated calculators aim to estimate a year's net price, taking into account any aid the student might receive.

[Explore net price calculators for the top 250 colleges.]

Though the free tools can be used at any time, parents may want to start to toy with net price calculators when their students enter high school, says Pat Watkins, director of financial aid at Eckerd College in Florida. But keep in mind that the findings are only rough estimates—especially if the calculator you're using has only a few basic questions, such as asking for your household's salary range, rather than a specific figure with which to make calculations.

"If you're working with a calculator that seems abridged, be careful," Blum of Sarah Lawrence says. "It might be worth calling the financial aid office of that school and saying, 'I'm just nervous this number is not realistic.' ... Parents should never shy away from calling a financial aid office and being very direct about the calculator—and any set of questions about financial aid."