Middlebury Implements New Quick College Cost Estimator
MIDDLEBURY, Vt. – Middlebury has joined 30 other colleges and universities in implementing MyinTuition, an online tool that provides fast, accurate college cost estimates. The new tool, which prompts users with six basic financial questions and takes about three minutes to complete, is a complement to Middlebury’s existing net price calculator, which has been in service since 2011 and provides a more in-depth analysis of financial need. Both calculators are available to students and their families on the College’s website.
Middlebury’s Student Financial Services office hopes the new platform will provide another step in clarifying the cost of attending college, especially for those to whom the “sticker price” seems beyond their means.
“MyinTuition demonstrates that even a top private college is accessible to qualified low- and middle-income students, and might actually be their most affordable option,” said Michael McLaughlin, director of financial aid operations. “It helps prospective students understand what Middlebury will truly cost after incorporating other factors, such as grants and scholarships, loan and work study expectations, and more.”
The new estimator asks six basic financial questions (total family income, value of their house, any remaining mortgage balance, cash in the bank, and savings held in retirement accounts and other investment accounts), then, based on the submitted information, produces an estimate of how much the student and family will be expected to contribute toward the cost of attending Middlebury. The estimates are given as low range, “best estimate,” and high range. All results are anonymous, and the College does not retain any personally identifying information. While not a guarantee of financial aid, the estimates are intended to provide an accurate initial starting point.
MyinTuition was created in 2013 by Phillip Levine, a professor of economics at Wellesley College and now founder and CEO of MyinTuition Corp. Since 2013, 31 academically elite colleges have implemented MyinTuition.
For more information, visit Middlebury College Student Financial Services.