Money Matters: Understanding How Colleges and Universities Use Their Websites to Communicate Information About How to Pay College Costs

Abstract

This study uses web sphere analysis to examine the usability and usefulness of information that selected 4-year colleges and universities are providing about the costs of attendance via their net price calculators and cost-related websites. Using compliance with current and proposed federal requirements for net price calculators as a starting point, we draw on prior research to identify and explore indicators of the cost-related information that prospective students need, and the extent to which the 80 sampled institutions are providing it. The analyses show that some colleges and universities are not only failing to comply with federal mandates concerning net price calculators but also ignoring their ethical responsibility, as noted by the National Association of College Admission Counseling, “to provide complete, factual, and readily accessible information that will allow students and their counselors to make informed college comparisons and choices.”

Demystifying Tuition? A Content Analysis of the Information Quality of Public College and University Websites

“…We found these to be particularly prone to discrepancies in estimated costs of attendance when compared with other institutional sources of information. This finding and recommendation dovetails with evidence from Perna et al (2019), which uncovered several problems with the quality and accuracy of information provided by net price calculators. Ultimately, schools should opt for custom or institutionally specific net price calculators, which contain far fewer informational discrepancies and support more detailed cost estimates than externally sourced calculators.…”

“…Finally, for policy makers, our findings provide clear indication that the good intentions of the 2008 Higher Education Opportunity Act, which mandated that colleges and universities include a net price calculator, have failed on implementation (Cheng, 2012; Levine, 2014; Perna et al, 2019). In fact, a poorly designed website diminishes the potential value of such a tool, particularly when the information provided by a calculator is not up to date or accurate.…”

“…Perna (2006b) has stated that “higher education institutions are positioned to play a central role in the transfer of information about college costs and financial aid to students and their families” (p. 1626), noting the potential benefits of large-scale initiatives that direct students to institutional websites (at the time the article was written, the College Promise Program served as a key example; see Ikenberry & Hartle, 2000). Extending this work, Perna and colleagues have recently engaged in a descriptive analysis of net price calculators found on institutional websites to assess how colleges and universities are communicating information to students about college costs (Perna et al, 2019). Preliminary results illustrate the variation that exists in the usability of information provided by net price calculators and point to the concerning practices among institutions in not complying with federal mandates in ways that ultimately deteriorate one’s ability to make informed comparisons.…”

“…Finally, though regulations issued by the federal government have—for nearly a decade—required colleges and universities to publish estimated costs of attendance (in the form of net price calculators), a recent study by Perna, Wright-Kim, and Jiang (in press) found inconsistency in institutional compliance with these requirements, as well as major limitations affecting the usability of cost calculators. As their work highlights, the accuracy of college cost information has serious implications for postsecondary enrollment and attainment, particularly for first-generation and low-income students.…”

“Name and Shame”: An Effective Strategy for College Tuition Accountability?

“…More recent research focused on low-stakes accountability policies in higher education has focused on student-personalized information, such as net price calculators (institutions are required to include calculators on their websites where students can input income information and the institution will provide an estimate of financial aid; Perna et al, 2019) and voluntary “shopping sheets” (simplified and standardized ways to present financial aid offers from institutions; Rosinger, 2019). In general, there is suggestive evidence that the personalized information appeared more salient for students’ borrowing behaviors when students attended institutions with lower graduate rates (when information was provided about graduation rates) or institutions with large shares of students of color.…”