Phillip Levine, MyinTuition Corp.
January 17, 2018
Today, sixteen additional top universities showcase their commitment to clarifying the cost of college by implementing MyinTuition, a revolutionary online tool that quickly and easily provides accurate college cost estimates. Prospective students will now be able to easily estimate costs to attend Babson College, Boston College, Brown University, Colby College, Davidson College, Duke University, Grinnell College, Hamilton College, Johns Hopkins University, Middlebury College, Northwestern University, Skidmore College, Smith College, St. Olaf College, University of Rochester, and Yale University.
Clarifying college costs for prospective students is increasingly important in higher education. MyinTuition requires no tax forms, asking users to provide six basic and readily known financial characteristics. It takes the average user just three minutes to complete and as such, MyinTuition is transforming the way people approach their college applications. Between April 2017 and January 2018 alone, over 150,000 people used the tool to generate college estimates.
Jeremiah Quinlan, Dean of Undergraduate Admissions and Financial Aid at Yale University, argued “there is an information gap about what it actually costs a family to attend Yale. We want to change perceptions and ensure that students never miss an opportunity to apply for admission because of an incorrect assumption about costs.” MyinTuition is designed to overcome that information gap.
MyinTuition was created in 2013 by Phillip Levine, Katharine Coman and A. Barton Hepburn Professor of Economics at Wellesley College and now founder and CEO of MyinTuition Corp. Since 2013, thirty-one academically elite colleges have implemented MyinTuition. The sixteen new users join fifteen existing partner schools, including Amherst College, Bowdoin College, Carleton College, Colorado College, Columbia University, Dartmouth College, Mount Holyoke College, Pomona College, Rice University, University of Virginia, Vassar College, Washington and Lee University, Wellesley College, Wesleyan University, and Williams College.
Seth Allen, Vice President and Dean of Admissions and Financial Aid at Pomona College believes that “MyInTuition has been an invaluable tool for demonstrating Pomona’s commitment to access and affordability. It’s our go to answer when students and families ask about our financial aid program.” Dartmouth College attributes MyinTuition for the greater socioeconomic diversity in its early decision applicant pool this past year.
While MyinTuition helps clarify college costs for any prospective student, it is a critical tool in providing guidance to high-performing students from lower-income families. MyinTuition demonstrates to these students that a top college is still accessible–– and may even be the most affordable option. MyinTuition provides an accurate estimate of college cost after factoring in financial aid, separately reporting scholarships along with loan and work study expectations.
“Providing access to low-income students is Northwestern’s top enrollment priority, according to Michael Mills, Associate Provost for University Enrollment at Northwestern University. MyIntuition is an important tool towards that goal, as it eliminates the stress and mystery surrounding the aid process.”
MyinTuition is a groundbreaking tool that easily provides a personalized estimate of what it would cost an individual to attend college. Users provide answers to six basic financial questions (total family income, value of their house, any remaining mortgage balance, cash in the bank, and savings held in retirement accounts and other investment accounts). They receive individualized estimates of the cost of college, including out-of-pocket costs, available loans and work-study opportunities, and scholarship assistance. The tool is easy to use and more straightforward than the typical net price calculator.
MyinTuition Corp. was founded in July 2017; it was initially created in 2013 and developed with the assistance of Wellesley College. Its mission is to lift the veil of uncertainty regarding college costs and, for qualified students, dispel the notion that college will cost them an exorbitant amount of money. It seeks continued expansion to more schools to provide the greatest possible benefit to students seeking to navigate the confusing waters of college costs.
Founder and CEO of MyinTuition was recently featured in Boston Globe Magazine as one of Boston’s “2017 Best of the New People and Ideas” for his work with MyinTuition and clarifying the cost of college.
Photo © Michael Marsland, Yale University.