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As defined in The Higher Education Opportunity Act of 2008, the net price calculator's purpose is: "…to help current and prospective students, families, and other consumers estimate the individual net price of an institution of higher education for a student.
A college cost calculator, in the United States, is an online tool allowing students and their parents to calculate how much college is likely to cost. [1] [2] Numbers are input into the online calculator, and if done properly, it gives an estimate of the likely expenses for that student attending that particular college.
A student attending a private four year university has an average yearly cost of $49,870. These costs factor in tuition, housing, food, university fees, and supplies such as textbooks, manuals, and uniforms. Two year public universities, such as a community college, factor in tuition and fees, and have an average yearly cost of $3,730.
In 2017, a federal endowment tax was enacted in the Tax Cuts and Jobs Act of 2017 in the form of an excise tax of 1.4% on institutions that have at least 500 tuition-paying students and net assets of at least $500,000 per student. The $500,000 is not adjusted for inflation, so the threshold is effectively lowered over time.
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The University of Michigan, founded in 1817–twenty years before Michigan's statehood–is the state's oldest university [1] [2] and remained the only university in the state until the 20th century, when Detroit College became the University of Detroit in 1911 and Wayne State University achieved "university" status in 1933 following the ...
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