COST ESTIMATOR
reTHINK PSU Proposal #134
Student Financial Aid, Office of Information Technology,
Student Financial Services
MOTIVATIONS ARE CLEAR
Students express a high degree of uncertainty about their
finances.
This is understandable given the complexity of even
predicting what their students costs will be term by term
(not to mention from one year to the next).
Students with high levels of financial uncertainty are at the
highest risk of not persisting.
PROBLEM IS COMPLEX
Predicting costs is a multivariate problem: per
credit and differential tuition structures, housing
and transportation options, and individual course
selections all must be taken into account.
PERFECTION IS THE ENEMY OF “GOOD ENOUGH”
We propose a layered solution
Use prior term information as well as characteristics known
within banner (eg residency, student level, major/tuition
differential, health insurance) to provide a ROUGH estimate.
Display the assumptions to the student and allow them to
make interactive modifications (eg I will actually be in 16
credits, not 12 this term)
ALLOW COMPLEXITY
Encourage interaction
Allow students to change the assumptions (eg “I’m
moving off campus this term.”)
Provide fields to enter individual course fees or
other modifiers (eg “I know I’ll have some dental
costs too this term.”)
CREATE A LEARNING TOOL
Use the estimator as an opportunity to help
students understand the options they have and how
their decisions impact their total costs.
Link unobtrusively to information about charges
(University Housing rate sheet, Transportation and
Parking rates, etc.)