Washington
The U.S. Department of Education has released a template that colleges can use to create the net-price calculators they are required to offer on their Web sites in two years.
The calculators, which are required under a provision of the Higher Education Opportunity Act, will allow prospective students and their families to estimate their personal out-of-pocket expenses at a particular college.
Colleges have the option of using the department's template, which was released last week, or developing their own as long as it incorporates, at a minimum, the data elements used in the template.
The template was originally scheduled to come out in August. Colleges have two years, until October 29, 2011, to have their calculators up and running, but they have been encouraged to take action sooner, and some already have made calculators available.
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