If you have been researching colleges and their related costs, you may have come across a Net Price Calculator (NPC). A college’s NPC is designed to provide an estimate of the financial aid a student may receive, which may help families plan for college costs before applying. However, a student may apply to the school and receive a financial aid offer very different from the NPC estimate. Understanding why these discrepancies occur can help families temper expectations and navigate college costs.

Here are some reasons why you may see differences:

Differences in the Information Provided

Sometimes the differences are simply attributed to the information entered into the calculator versus the financial aid application. An NPC will use the information you enter, but if your FAFSA or CSS Profile contain different figures based on your verified tax data, your aid may likely differ. Numbers you enter with an NPC are self-reported estimates and may even contain errors that can greatly alter estimates.

Changes in Circumstances

Your results may also differ if your financial or family circumstances change between your use of the NPC and the submission of your financial aid applications. Financial differences such as income, bonuses, self-employment income fluctuations, or investment income can impact eligibility for aid. Family circumstances may also be factors in calculating aid, and changes like household size, number of children in college, martial status, or dependency status can make a big impact.

Cost of Attendance Changes

Depending on when you used the NPC, tuition, housing, meal plans, and fees may have changed at the college. Changes to Cost of Attendance (COA) can affect the financial aid that the college offers.

Institutional Aid Policies

Colleges that require the CSS Profile or other financial aid applications often use their own formula for determining institutional (college-provided) aid, which can vary from the estimates provided by an NPC. With these applications, income verification, asset treatment, and how the college calculates financial need may differ than the calculations built for the NPC. Additionally, merit scholarship information is sometimes factored into the estimates of the NPC, while others may not include this type of aid or only provide basic estimates. The accuracy of each NPC relies on how aligned the calculator is with the actual formula the college uses.

Limited Funding

Colleges and universities rely on a variety of funding sources for packaging financial aid offers. Most NPCs will not account for the possibility that certain grants or scholarships are limited or have been exhausted. For instance:

• Institutional grants may have a limited budget
• Some aid programs are offered on a first-come, first-served basis
• State grants may have finite funding
• Campus-based federal aid programs, such as Federal Work-Study and Federal Supplemental Educational Opportunity Grant (FSEOG), are allocated to colleges in limited amounts

If you applied to the college after a priority financial aid deadline, the above examples may be factors for the discrepancies you’re seeing.

The Main Takeaway

During the college admissions process, it’s important to remember that a college’s NPC is only an estimate, while a school’s financial aid offer is the actual determination of aid based on your application and supporting documents.

Is It Worth Asking About?

It may be worth contacting the financial aid office about the discrepancy between a college’s NPC output and financial aid offer if any of the following are true of your situation:

• The aid offer is significantly lower than the NPC estimate
• You entered the NPC information carefully and are confident it matches your financial aid applications
• Your family’s financial or personal circumstances haven’t changed
• You believe the school may have overlooked or misinterpreted information

If you can speak to the discrepancy and the above points, colleges may be willing to review your file. You can also learn more about appealing financial aid offers with the following MEFA resources:

• Appealing Financial Aid Offers Video
• Appealing: How to Ask for More Financial Aid Podcast Episode
• What to Know About Financial Aid Appeals Recorded Webinar
• Need More Financial Aid? Learn About the Appeal Process Article

And if you would simply like to learn more about financial aid and scholarships, review our overview page.