Overture Technologies has announced the creation of a new Net Price Calculator, an innovative online tool to help schools provide their students with a picture of their college costs, and also meet the requirements of the Higher Education Opportunity Act of 2008. This new product is the result of a collaboration with the College Board and will be available as the College Board’s Net Price Calculator.

By October 2011, all undergraduate institutions that award federal Title IV financial aid will be required to offer a net price calculator that provides students an estimated cost to attend their college. The Net Price Calculator helps institutions fulfill this requirement while giving prospective students the information they need to help them plan how they finance their educations.

The Net Price Calculator is Web-based, easy to implement, and helps assure a positive student experience. Customizable fields within the calculator let you reflect your institution's need analysis and awarding policies so that students receive a realistic price and can make more informed decisions. By using the calculator, students who were concerned that they could not afford to attend your institution may discover that they can, after all.

Launching this fall, the Net Price Calculator will aid institutions in a convenient and cost-effective way, while at the same time supporting the needs of students for clear and consistent answers to questions about college costs.

To read the full press release, click here. For schools that are interested in receiving additional information about the Net Price Calculator as it becomes available, please send an e-mail to pcarroll@overturecorp.com. 

The Oregon Independent Colleges Association (OICA) and Overture Technologies today announced the launch of the Oregon Private Loan Marketplace (http://oregon.privateloanmarketplace.com), an online loan comparison and shopping service that will be available to over 125,000 students attending 30 Oregon private and public institutions of higher education. Prager, Sealy, & Co., LLC, a leading higher education financial services firm, serves as the program manager for OICA.

Oregon institutions participating in the Marketplace on its opening day are Corban College & Graduate School, Lewis & Clark College, Linfield College, Marylhurst University, Oregon College of Art & Craft, Pacific University, Reed College and University of Portland.  Other Oregon institutions will be activating their link to the Marketplace in the upcoming weeks.

“Taking out a private loan can be a complicated, confusing process, so we have leveraged our technology to streamline the shopping experience for students in the Student Loan Marketplaces,” said Russ Carlson, CEO of Overture Technologies.  “We look forward to working to provide the students of Oregon with a transparent, responsible way to shop for private loans.”

To read the full press release, click here, and visit the Oregon Private Loan Marketplace at http://oregon.privateloanmarketplace.com. 

The Association of Independent Colleges and Universities of Pennsylvania (AICUP) and Overture Technologies today announced the launch of the Pennsylvania Private Loan Marketplace (http://pennsylvania.privateloanmarketplace.com), an online loan comparison and shopping service available to over 600,000 students attending 140 Pennsylvania private and public institutions of higher education. Prager, Sealy, & Co., LLC, a leading higher education financial services firm, serves as the program manager for AICUP.

In the current lending and regulatory environment, schools are finding it to be more efficient and effective to direct students to an objective loan comparison tool instead of a traditional preferred lender list or an overwhelming list of all active lenders. The Marketplace is the only online service that presents students with upfront, accurate comparisons of rates and terms - not “as low as” advertisements – giving them the information needed to effectively evaluate their available private loan funding options.

“We are excited about the Marketplace and the work of Overture and Prager to bring the Pennsylvania Private Loan Marketplace to the colleges, students and families of Pennsylvania,” said Tim Alexander, AICUP Vice President of Finance and Administration. “By presenting accurate comparisons of private loans, the Marketplace will help parents and students make informed decisions on how to finance their educational expenses and help them affordably attend Pennsylvania’s colleges and universities.”

To read the full press release, click here, and visit the Pennsylvania Private Loan Marketplace at http://pennylvania.privateloanmarketplace.com.