Controversy Erupts Over Site to Compare Costs

HomePlanToolsControversy Erupts Over Site to Compare College CostsThis page may contain affiliate links.Oct 8, 2014CollegeAbacus,  an online app  launched in October, helps parents and students compare college costs all in one place. This one stop  shopping site uses  each colleges personalized net price calculations and allows users to compare up to 3 schools at once for free (with unlimited usage).   The net price calculation is what a college will cost after subtracting scholarships and grants from your cost of attendance. The government now requires schools to include net price calculators on their websites, but they are not always easy to find. So having one  website, that allows you to enter a list of interested schools and  get personalized net price calculations to compare costs would seem like a  wonder thing at least for  parents and  students, but maybe not so  much for schools.   read more Controversy  erupted when  Student Aid Services, a company that manages net price calculators for over 700 colleges, began preventing College Abacus from accessing the college calculators. In a letter sent to its clients on Oct. 28, Student Aid Services warned that College Abacus may be providing inaccurate information and charging students for information that colleges provide for free. Cornell  and Fordham University are the only schools that have asked Student Aid Services to restrict College Abacus from their net price calculators. According to Abigail  Seldin, College Abacus founder,  Ã¢â‚¬Å"College is the largest expenditure most people make in their lives. They should know what it costs before they commit themselves to a particular institution. But some schools feel their educational offerings cant be compared on cost alone and may  lead  students to make poor decisions.  Bill Carroll, a senior lecturer in the Cornells School of Hotel Administration commented  Ã¢â‚¬Å"If you are a highly differentiated entity, like an Ivy League college, it is certainly a lot harder to make the comparison of what the value of that education experience is as compared to a junior college.   When you’re making comparisons, it’s not just price. †¦ It’s what the value is.†Ã‚   So whats the real concern? Accurate net price calculations  offered through College Abacus or the fear of colleges that parents and student now have the opportunity to compare college costs easily,  putting pressure on schools to justify these numbers with meaningful value? Road2College Debbie Schwartz is former financial services executive and founder of Road2College and the Paying For College 101 Facebook group. She's dedicated to providing families with trustworthy information about college admissions and paying for college. With data, tools and access to experts she's helping families become educated consumers of higher ed. View all posts CATEGORIES PlanTools TAGS admissionsCollege AbacusCollege AdmissionsCollege PlanningCost of AttendanceCost of CollegeExpected Family Contributionnet price calculatorNEWER POSTEat, Drink, Be Frugal Advice from Parents on Paying The Tuition BillOLDER POSTWhere Else are You Applying?