The calculators, intended to help students decide which colleges they can afford, sometimes will give students more than one price -- the federally mandated net price after grants, and the “out-of-pocket cost,” or the price “after all financial aid” -- including at least some loans. In some cases, the federally mandated net price disclosure is listed far below a different -- and lower -- number.
Critics argue that this can encourage students to take on debt by making college appear more affordable than it actually is.