Wellesley Unveils College Cost Calculator

Jessica Rinaldi/Reuters

With the price of higher education skyrocketing, many worthy students feel they can't afford to attend an elite college. But, Wellesley is looking to change that perception. On Wednesday, Wellesley launched a "cost of college" calculator to help families figure out whether they can swing the tuition. The calculator asks for basic information like annual family income, how much their home is worth, what's left on any mortgages, and if the student has any siblings in college. The calculator gives an estimated parent contribution that is often well less than the published $57,042 cost, which includes tuition, room, board, and other fees.