Ed Department offers $1,500 to students in college cost video challenge
Colleges and universities around the country have all posted a new tool on their websites to help students and families determine how much college will cost in their particular case. Now, the U.S. Department of Education, which mandated that such a tool be added to all college websites, is trying to get out the word to all current and prospective postsecondary education students. The Ed Department is hoping to speak directly to their target audience by way of a contest offering three $1,500 prizes to high school or college students who submit videos promoting the tool, called a Net Price Calculator.
“This challenge asks students to create short videos that will inform students and families of a new resource that makes it easier to calculate how much it might cost to go to a particular college,” according to the College Net Price Video Challenge website. "On October 29, 2011, all colleges and universities were required by law to provide a ‘net price calculator’ on their websites. This is one of several Department initiatives to make the price of college more transparent and help students and families make informed decisions about investing in postsecondary education.”
The Net Price Calculators provide users with the total cost of an education at a particular school after considering all scholarships and grants given to the student. Using data from students in similar situations at the school during the previous academic year, the calculator tells users how much they are likely to pay if they decide to attend that particular college.
“‘Net price’ is a new and important piece of information about college costs; it helps students and families estimate what it would likely cost to attend a college after accounting for grants and scholarships that don’t need to be repaid,” explains the Challenge’s website. “Unfortunately, too few people know what ‘net price’ means, and where to find a college’s net price calculator on its website, or how to use net price – along with other information – when comparison shopping for higher education … This information will give students and their families a better idea of likely costs so they can make more informed decisions about where to enroll and how much to borrow. The net price doesn’t just include tuition and fees. It also includes estimates for living expenses, books and supplies, and other related expenses that students are likely to incur while pursuing their education.”
Video challenge submissions must be entered online by January 31. A panel of three stakeholders in education will judge the submissions and the winners will be chosen in the spring.
Check out the Net Price Calculator on phoenix.edu.
