Net Price
What a family actually pays after grants and scholarships, as opposed to the published sticker price. The number that should drive budgeting decisions.
Net price is the actual cost a family pays after subtracting all grants, scholarships, and gift aid from a college's total cost of attendance. Total cost includes tuition, fees, room and board, books, and personal expenses. Subtracting only need-based and merit gift aid (not loans) produces the net price.
By federal regulation, every U.S. college must publish a Net Price Calculator on its website. Families can input income, assets, and household details to receive an estimate of what aid they would qualify for and what their out-of-pocket cost would be. These calculators are the single most useful tool for college budgeting.
For parents, the practical guidance is to ignore sticker price entirely when shaping the college list. Run the Net Price Calculator for every school under serious consideration, ideally before junior-year visits, so the list reflects realistic affordability rather than headline tuition numbers.
Related terms
View all terms- FAFSAThe Free Application for Federal Student Aid. The main form for federal grants, loans, and most state and institutional aid in the U.S.
- SAIStudent Aid Index. The current FAFSA-calculated number used to determine federal and most institutional financial aid eligibility.
- CSS ProfileA supplementary aid form used by ~250 selective colleges to award their own institutional aid. Goes beyond FAFSA in detail.
- Pell GrantA federal need-based grant for undergraduate students that does not need to be repaid. Maximum award rises annually with inflation.
- EFCExpected Family Contribution. The legacy term for what families were expected to pay annually toward college, now replaced by SAI.