KCTCS launches new net price calculator to increase financial transparency for students
Published on Jul 23, 2024
The Kentucky Community and Technical College System is pleased to announce the launch of Meadow Price, a modern net price calculator (NPC) designed to provide students with an accurate and personalized estimate of their college expenses after financial aid.
The net price calculator is available across all 16 KCTCS colleges.
The main benefit of the tool is to help students estimate how much it would cost to attend college and how much financial aid they could expect to receive to cover those costs without having to go through the full admissions application or FAFSA application process.
For students who are curious about whether they could afford to go to college, the mobile-friendly tool provides quick feedback on the real cost of college for their situation.
“We believe in providing our students with the tools they need to make the best possible decisions about their education," said KCTCS President Ryan Quarles. "Financial transparency is crucial, and our new net price calculator is a significant step forward in helping our students understand their potential costs so they can plan accordingly."
Prospective and current students will need to input their financial information to receive a detailed estimate of their out-of-pocket costs, factoring in scholarships, grants and other forms of financial aid.
KCTCS chose Meadow because of their track record for creating mobile-friendly, intuitive and accurate financial tools, as well as the ease of the implementation process, and robust data and analytics that will help colleges boost enrollment.
This year changes to the Free Application for Federal Student Aid (FAFSA) led to decreased FAFSA completion rates across the country and in Kentucky. Data from the National College Attainment Network shows that students who complete the FAFSA are considerably more likely to attend college within one year compared to students who do not.
In a year following lower FAFSA submissions and less information about the cost of attending college, communicating to students about their potential financial aid is essential. An accurate net price calculator makes this possible.
Since launching just two years ago, Meadow has built net price calculators for nearly 100 higher education institutions across the country ranging from 500 to 70,000 students. The partnership with KCTCS marks a milestone as the first entire system to make a commitment to financial transparency by partnering with Meadow.
Alfredo Brillembourg, CEO and co-founder of Meadow, expressed his enthusiasm for the partnership.
"We are incredibly excited to work with KCTCS," he said. "Community colleges play a vital role in providing accessible education, and it's an honor to support their mission by offering a tool that enhances financial clarity for Kentucky students,” he said.
KCTCS’ new net price calculator went live July 1 and is accessible through each college's website.
