In accordance with the Sec. 111 of the Higher Education Opportunity Act of 2008 (HEOA) and using both student-entered and institution-provided data, the Net Price Calculator allows prospective students to calculate an estimated net price at an institution using the following basic formula: Price of attendance minus grant aid. Based on the information entered by the student, an average net price of attendance for the current school year is generated.

The estimates generated by the template do not represent a final determination, or actual award, of financial assistance or a final net price; they are only estimates based on price of attendance and financial aid provided to students in a given year. The estimates shall not be binding on the Secretary of Education, the institution of higher education, or the State.