U.S. Law Requires Colleges to Have Cost Calculator Available Online

Schools like Bellus Academy have recently added the online cost calculator.

Thinking about going to college or university in the United States? Figuring out your budget just got easier.

The U.S. Department of Education now requires that all institutions have a calculator on their website (the deadline was October 29th, 2011), either by their own template or using one provided by the government.

The tool considers such factors as:

• Will the student live on campus
• Do they expect to receive financial aid
• Are they eligible for in-state tuition
• The number of children in the family and how many are attending college
• The annual household income.

Bellus Academy, for example recently added the online cost calculator.

In Canada, it is not required by law yet, but many schools do offer a cost calculator for would-be students.

Mohawk College offers a Cost of College Calculator, designed to work with 1-year certificate, 2 and 3-year diploma programs and 4-year degree programs offered by the school. Other schools, such as The University of British Columbia can estimate your tuition costs on a per-credit basis.

In the U.S., would-be students can also submit the Free Application for Federal Student Aid and find out if they are eligible for federal and state grants.

Schools mentioned: Mohawk College, The University of British Columbia, Bellus Academy