by Meredith Kolodner, The Hechinger Report
April 30, 2026
It happens every spring: Families receive financial aid offers from colleges, puzzle over them and are still left with the question — how much will this college actually cost me?
Instead of stating how much a family must pay out of pocket, some letters use jargon like “total net expenses” or “total net and indirect cost.” Different colleges calculate a student’s out-of-pocket costs differently and, because the letters come in hundreds of formats, families can struggle to determine which institution is most affordable. Sometimes the letters don’t reveal the high interest rates behind the loans they list or that families might not qualify for them. This can leave…