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By Tom Latek

Kentucky Today

 

VERSAILLES, Ky. (KT) – The Kentucky Community and Technical College System has announced the launch of Meadow Price, a modern net price calculator (NPC) designed to provide students with an accurate and personalized estimate of their college expenses after financial aid. 

The purpose of the tool is to help students estimate how much it would cost to attend college, and how much financial aid they could expect to receive to cover those costs, without having to go through the full admissions application or Free Application for Federal Student Aid (FAFSA) application process. 

For students who are curious about whether they could afford to go to college, the mobile-friendly tool provides quick feedback on the real cost of college for their situation.

“We believe in providing our students with the tools they need to make the best possible decisions about their education,” said KCTCS President Ryan Quarles. “Financial transparency is crucial, and our new net price calculator is a significant step forward in helping our students understand their potential costs so they can plan accordingly.”

Prospective and current students input their financial information to receive a detailed estimate of their out-of-pocket costs, factoring in scholarships, grants and other forms of financial aid. 

KCTCS officials say they chose Meadow because of its track record for creating mobile-friendly, intuitive and accurate financial tools, as well as the ease of the implementation process, and robust data and analytics that will help colleges boost enrollment. 

This year, changes to FAFSA led to decreased completion rates across the country and in Kentucky. Data from the National College Attainment Network shows that students who complete the FAFSA are considerably more likely to attend college within one year compared to students who do not. 

In a year following lower FAFSA submissions and less information about the cost of attending college, KCTCS says communicating to students about their potential financial aid is essential.  An accurate net price calculator makes this possible.

Since launching two years ago, Meadow has built net price calculators for nearly 100 higher education institutions across the country ranging from 500 to 70,000 students. The partnership with KCTCS marks a milestone as the first entire system to make a commitment to financial transparency by partnering with Meadow.

KCTCS’ new net price calculator is accessible at the website for all 16 colleges in the system.