Enter your annual income, family size, and other details into the calculator to determine your estimated net price for college.
Estimated Net Price Calculation Formula
The following formula is used to calculate the estimated net price for college.
Estimated Net Price = (Parent Income + Student Income + Family Assets * 0.05) * 0.20
Variables:
- Estimated Net Price is the estimated cost of college after financial aid ($)
- Parent Income is the total annual income of the parents ($)
- Student Income is the total annual income of the student ($)
- Family Assets are the total assets held by the family ($)
To calculate the estimated net price, add the parent income, student income, and 5% of the family assets. Multiply this sum by 20% to get the estimated net price.
What is the MyIntuition Calculator?
The MyIntuition Calculator helps families estimate their college costs quickly and easily. By inputting basic financial information, users can receive an estimate of the net price they would need to pay for college after taking into account financial aid. This tool is designed to provide families with a clearer picture of the potential costs associated with higher education, enabling better financial planning and decision-making.
How to Calculate Estimated Net Price?
The following steps outline how to calculate the estimated net price using the given formula.
- First, determine the parent income, student income, and family assets.
- Next, sum the parent income and student income, and add 5% of the family assets.
- Use the formula from above: Estimated Net Price = (Parent Income + Student Income + Family Assets * 0.05) * 0.20.
- Finally, calculate the estimated net price by plugging in the values.
- After inserting the