The Department of Education requires all universities to provide information to consumers on what it would cost an undergraduate student to attend their university; this is called the Net Price Calculator.
After students receive grants and scholarships that do not have to be repaid, students may have to earn or borrower additional money to cover the cost of their education, this is commonly referred to as out of pocket expenses. The Net Price Calculator as defined by the Department of Education is intended for students that have never attended college. National Louis for the year we are reporting, 2009-10, actually had one student in that category. As a result the information that we provide as the official Net Price Calculator is based on one student and not representative of our undergraduate student population.
In order to provide more relevant information, we have provided a typical undergraduate financial aid package for the 2010-11 academic year. As you review the information, it is divided into several categories. We have listed what it will cost you to enroll at National Louis; expenses such as tuition, fees and books and the financial aid you may receive to cover those expenses. In addition, we have added the other expenses that are allowed to be covered by financial aid such as transportation, personal expenses and living expenses. Of course, your expenses may be different since we are providing estimates. To pay for those expenses, we have listed other forms of financial aid, such as work study and student loans. We separate these out because we want you to see what you need to; either earn through work or borrow through loans.
When comparing universities, it is important that you look at what you need to pay either out of pocket or through work study or loans. The actual cost of any university program is less important that what it will actually cost you out of pocket.
Regardless of where you are planning on attending or which term you are going to start, if you plan on attending school anytime between July 1, 2011 and June 30, 2012, the first thing you should do is go to www.fafsa.gov and complete the FAFSA. In order to send your FAFSA information to National Louis, you should use our school code 001733. Completing the FAFSA is the first step in qualifying for financial aid. You will learn what aid you may qualify for which you can then compare to the cost of your school of interest.
Steve Di Benedetto
Director of Student Finance