Wouldn't it be nice if colleges all used the same terms and language to describe their financial aid packages? Sure would, but only 700 of about 6,000 U.S. colleges have done so. It's up to you, and this chart, to make sense of the rest.
The Wall Street Journal is out with an interactive ranking of college financial aid packages, because it is that time of year in pre-collegiate households. For those not considering schools on the list of amazingly beneficent institutions, you'll need to figure it out yourself. The Journal offers a nice, simple summation table, and some advice on how to use it with long-term planning in mind.
To be safe, families should calculate costs over four and five years, because many students take more than four years to graduate. Just 53% of students at nonprofit private schools and 31% at public colleges graduate in four years, according to the Department of Education.
What's the worst, most confusing financial aid package you've seen? How do you make sense of what's really being offered? Gather in the residential comments lounge and share your story.
Making Sense of College Aid | WSJ.com
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