At PayForEd, we take great pride in our Proprietary College Cost Database. We developed this database process to improve the accuracy and timing of the information for our clients. Many other systems purchase their data from a third party or depend on the government’s IPEDS database. These numbers are self-reported and often not available until sometime after many students have already begun their college list building and application process.
The biggest benefit of using the College Cost Analyzer , with its updated data, is it can save parents and students time and reduces stress. First, it puts all the financial information in one place. With our customized four-year analysis and financial aid projections, we increase the transparency of the true cost and debt at graduation. As a result, the PayForED methodology also reduces the stress of the college decision process by providing better insights into expected financial awards.
As part of our summer intern orientation, we had our interns take a sample family and their task was to estimate the cost of college by using the net price calculators found on 8 randomly selected college websites. Our assumption was that a typical college-bound family would need to do this same exercise when building a college list. It took them approximately 2.5 hours to estimate 8 colleges. We then had them use our College App and they were done in 20 minutes. In addition, they had customized financial aid answers that went beyond a typical net price calculator and were able to compare the 8 schools in more detail.
Discover the advantages of the PayForED data quality in our College Cost Analyzer. Engage your child in the true cost of college and avoid excessive student loan by using the PayForED approach.
