Can someone explain how Syracuse's Net Price Calculator works?

I'm really stressed about college costs. Can someone please explain how I can calculate the likely costs of attending Syracuse University? I heard about a tool called a 'Net Price Calculator', but I'm not too sure how to use it.

Absolutely, I'd be happy to help explain how a net price calculator works!The Net Price Calculator is a tool that universities, like Syracuse, provide to help prospective students and their families estimate the cost of attendance. The tool takes into account tuition, fees, room and board, books, and other expenses. It also includes grants and scholarships the student could receive from the university, state, and federal government.

To utilize Syracuse's Net Price Calculator, you’ll first need some financial information, such as your family's income and assets. You’ll also be asked about your academic achievements like your GPA, test scores if any, and class rank. Lastly, they might ask about your extracurricular activities – though this part often does not significantly impact the outcome.

Once you enter your information, the calculator will give you an estimate of your total cost of attendance, including direct costs (like tuition, fees, room and board) and indirect costs (like books and personal expenses). It will also estimate the amount of financial aid you might receive, including federal, state, and school-based aid – both need-based and merit-based. Keep in mind though, this is an approximate value and the actual amount may vary.

Remember that the academic, extracurricular, and demographic info you provide can affect the calculation, as Syracuse offers some merit scholarships based on those details. For example, if you’ve excelled academically or are engaged in unique and significant extracurricular activities, you may qualify for additional scholarship funding that wouldn’t otherwise come up in a tool like this.

One important thing to keep in mind, though, is that these are only estimates, and the actual cost could vary. But it's a good starting place to make an initial comparison of what you might actually pay at different colleges. It's a tool to help estimate your 'net' price to attend Syracuse – i.e., the cost after financial aid is applied – rather than the 'sticker' price.