The Office of Student Financial Aid will soon offer a new way for students to predict how much money they will be spending by attending college.

The Net Price Calculator is a new tool developed by Student Aid Services. It became a requirement for all universities to provide on their official websites by the end of October by order of the Higher Educational Opportunity Act.

MU has yet to disclose when the NPC will be available, but Student Financial Aid Interim Director Nick Prewett said it would be online before the Oct. 29 deadline.

The NPC will be used to serve two purposes. First, through estimated prices given from each university, it will give a price of how much a student would have to pay yearly. This would include everything from tuition to room and board to books and supplies.

It then calculates what type of aid package a student would need to attend the university based on scholarships awarded, dependency status and expected family contribution. This half of the calculation can only occur after the student fills out an extensive informational questionnaire.

This will be the first time Student Financial Aid has had a tool available like this, but Prewett said he discourages students from limiting themselves to only the NPC. There are other resources students should consult, namely guidance counselors while still in high school and financial advisers in college.

“I believe this is a tool to assist a student in selecting an institution,” Prewett said.

Prewett also pointed out a drawback to the NPC.

“The most important thing to focus on is that the NPC is an estimate and isn’t an exact fit for any student,” Prewett said. “A student using it will get an estimate, but a student’s individual aid package may vary.”

The NPC has already made its way to Columbia, becoming a valuable resource for Rock Bridge High School.

“It is very helpful when advising about college choices and majors,” Rock Bridge High Guidance Director Betsy Jones said.