Higher Education Opportunity Act Detail
The law for the first time also required post-secondary institutions be more transparent about costs and required the nearly 7,000 post-secondary institutions that receive federal financial aid funds (Title IV) to post net price calculators on their websites as well as security and copyright policies by October 29, 2011.As defined in HEOA, the net price calculator’s purpose is “…to help current and prospective students, families, and other consumers estimate the individual net price of an institution of higher education for a student. The [net price] calculator shall be developed in a manner that enables current and prospective students, families, and consumers to determine an estimate of a current or prospective student’s individual net price at a particular institution.”The law defines "estimated net price" as the difference between an institution’s average total Price of Attendance (the sum of tuition and fees, room and board, books and supplies, and other expenses including personal expenses and transportation for a first-time, full-time undergraduate students who receive aid) and the institution’s median need- and merit-based grant aid awarded.
Education Data System (IPEDS), stated the idea behind the requirement: "We just want to break down the myth of sticker price and get beyond it. This is to give students some indication that they will not [necessarily] be paying that full price."[11]The template was developed based on the suggestions of the IPEDS’ Technical Review Panel (TRP), which met on January 27–28, 2009, and included 58 individuals representing federal and state governments, post-secondary institutions from all sectors, association representatives, and template contractors. Mary Sapp, Ph.D., assistant vice president for planning and institutional research at the University of Miami, served as the panel’s chair. She described the mandate’s goal “to provide prospective and current undergraduate students with some insight into the difference between an institution’s sticker price and the price they will end up paying.”
The law for the first time also required post-secondary institutions be more transparent about costs and required the nearly 7,000 post-secondary institutions that receive federal financial aid funds (Title IV) to post net price calculators on their websites as well as security and copyright policies by October 29, 2011.As defined in HEOA, the net price calculator’s purpose is “…to help current and prospective students, families, and other consumers estimate the individual net price of an institution of higher education for a student. The [net price] calculator shall be developed in a manner that enables current and prospective students, families, and consumers to determine an estimate of a current or prospective student’s individual net price at a particular institution.”The law defines "estimated net price" as the difference between an institution’s average total Price of Attendance (the sum of tuition and fees, room and board, books and supplies, and other expenses including personal expenses and transportation for a first-time, full-time undergraduate students who receive aid) and the institution’s median need- and merit-based grant aid awarded.
Education Data System (IPEDS), stated the idea behind the requirement: "We just want to break down the myth of sticker price and get beyond it. This is to give students some indication that they will not [necessarily] be paying that full price."[11]The template was developed based on the suggestions of the IPEDS’ Technical Review Panel (TRP), which met on January 27–28, 2009, and included 58 individuals representing federal and state governments, post-secondary institutions from all sectors, association representatives, and template contractors. Mary Sapp, Ph.D., assistant vice president for planning and institutional research at the University of Miami, served as the panel’s chair. She described the mandate’s goal “to provide prospective and current undergraduate students with some insight into the difference between an institution’s sticker price and the price they will end up paying.”
Higher Education Opportunity Act
Higher Education Opportunity Act
Higher Education Opportunity Act
Higher Education Opportunity Act
Higher Education Opportunity Act
Higher Education Opportunity Act
Higher Education Opportunity Act
Higher Education Opportunity Act
Higher Education Opportunity Act
Higher Education Opportunity Act
Higher Education Opportunity Act
Higher Education Opportunity Act
Higher Education Opportunity Act
Higher Education Opportunity Act
Higher Education Opportunity Act
Higher Education Opportunity Act
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