What’s the Difference Between Sticker Price & Net Price For College?
College is expensive—but don’t freak out at the price tag.
When it comes to applying to colleges for undergrad or graduate school, there are multiple factors many students consider while choosing a school. From academics to campus life, it’s hard to know what to prioritize the most. One of the biggest factors, however, is the overall cost of tuition. But as you’re checking out how expensive a school is, you’re likely seeing the sticker price, not the net price.
Knowing the difference between these two numbers can be a huge factor while researching schools. So which is more important: sticker price or net price?
What is sticker price?
Sticker price refers to the total yearly cost of attendance at a college. This includes everything you’ll have to pay for as a student during your academic year of studying, including:
- Tuition
- Books
- Room & board
- Campus fees (parking permits, library cards, etc.)
Since almost all students receive some kind of financial aid, whether it’s scholarships or grants, the sticker price is most likely not what you’re going to pay to attend a certain school. Don’t freak out if the sticker price is out of your budget—the net price is what you’re going to want to pay attention to.
What is net price?
A college’s net price is the cost of attendance after you include any scholarships or grants you’re eligible for. The net price is specific to you because it’s based on your personal financial circumstances and the college’s financial aid policies.
Having a cost of attendance number tailored to your personal situation gives you a much better idea of how much attending a certain college will cost. The net price the most important number to make a note of with regards to your tuition budget.
Choosing a college based on sticker price or net price
While sticker price is important to consider when choosing a college, the net price is what matters the most. The sticker price becomes irrelevant if you have enough financial aid to bring the sticker price down to something you can afford.
However, the sticker price becomes a factor if you’re not planning on receiving enough financial aid to make a big difference in terms of cost.
What is a net price calculator?
Many colleges offer net price calculators online. This gives you a personalized estimate of your cost of attendance for a certain college.
Using a net price calculator is important because it offers personalized insight into how affordable various colleges are for you. When you know what your budget is for the net price of tuition, it gives you a better idea of how much you’ll actually pay for a certain college. It also makes comparing colleges easier and potentially gives you more options to choose from.
How do net price calculators work?
Net price calculators generally ask questions about your family’s finances along with questions about your academics (GPA, test scores, class rank, etc.), and other things that may qualify you for financial aid. It then uses your answers to determine how much financial aid you’re likely to receive and subtracts that from the overall cost of attendance.
Most net price calculators also give you more information on other kinds of financial aid that are offered. Make sure to give the most accurate answers for the most accurate result. And remember, these are estimates, so the actual cost may vary.
What is the most expensive college tuition?
Most colleges feel pricey to attend, but some schools are known to be more expensive than others. But which school is the most expensive in the country? Based on research from BestColleges.com from the 2022-2023 school year, these are the top 10 priciest colleges to attend (based on their sticker price):
- Northwestern University: $89,394
- University of Chicago: $86,856
- Columbia University: $86,097
- University of Pennsylvania: $85,738
- Pepperdine University: $85,202
- Wesleyan University: $85,172
- Yale University: $85,120
- The New School: $85,097
- University of Southern California: $85,064
- Harvey Mudd College: $84,896
