Twenty-two colleges and universities adopt a new online tool to help students and families understand their actual cost vs. sticker price NEWTON, Mass., October 14, 2025 –This fall, a new online tool will help simplify one of the most complicated aspects facing college-seeking students and their families: understanding their actual cost to attend. Launching in […]
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How can we fix the college affordability problem?
It is no secret that we have a higher education affordability problem in the United States. The staggering costs can amount to $80,000 per year at private colleges and universities and $30,000 per year at public institutions. Who can afford that? Yet the true cost of college is typically much less than that because of financial aid. The real problem is that students from lower-income families still face charges far greater than they can afford even after accounting for financial aid.
In my forthcoming book on the crisis in college pricing, my research team used net price calculators at 200 randomly chosen four-year residential institutions to estimate how much colleges actually charge students at different income levels.
Harvard EdCast: The Actual Cost of College
Helping families get past the sticker shock and discover what they might actually pay for college – When many people see the college price tag, they believe it’s financially out of reach. But Wellesley College Professor Phillip Levine, who studies college affordability, says that people often don’t realize there’s a difference between the price of college and the true amount a family might actually pay. Through the development of MyinTuition.org — an online tool that helps families uncover the actual cost — he hopes more students will achieve their college dreams.
College, Cheaper Than You Think
How much would you say it costs to attend a top private college like Dartmouth or Pomona for one year? I’m guessing that the first number that pops into your mind is quite large, like $60,000.For most Americans, that’s the wrong answer — and it’s wrong by a lot. The list-price tuition at these college does indeed run so high, but just a small slice of the population pays the list price. Typically, only families earning at least $200,000 a year fail to qualify for financial aid. For families with middle-class incomes, highly selective colleges are much, much less expensive.
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An Economics Professor’s Guide to Figuring out How Much College Costs
Calculating college costs can be utterly baffling. Phillip B. Levine, an economics professor at Wellesley College, argues that every school should offer a simplified financial aid calculator — or risk losing talented low-income prospects.
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