Wouldn’t it be nice if estimating the true cost of college was as easy as multiplying the first year’s tuition by four? But the truth is, tuition continually rises, many courses include special fees, textbook costs can vary wildly each quarter or semester, and then there are living expenses to consider. Nothing is a given.

For future students, comparing universities by cost can be especially difficult. But that’s expected to change, thanks to the new revised Higher Education Act, signed by President Bush on Aug. 14. Colleges and universities are now required to better account for tuition and fees and the National Center for Education Statistics’ College Navigator Web site will provide cost estimators, tuition data, graduation rates, and popular majors.

“Shopping for college is more than getting a good fit for the student and vetting the “sticker price.” It’s essential to project what total costs will be, based on the college’s rate of fee increases,” wrote Bloomberg News columnist John F. Wasik.

That statement really means something when you consider the average student loan debt among graduates of four-year institutions is $19,237; and more than 65 percent college graduates accept their diplomas along with some debt, according to a 2003-2004 NCES study. College isn’t getting any less expensive either. In 2007, tuition and fees rose more than 14 percent at public four-year institutions and 6 percent at private schools, the College Board reported.

While the legislation won’t lower the cost of college, it’ll help people determine whether their top college picks are smart investments when compared to the competition.

The Secretary of Education will provide to-date lists of the top 5 percent of institutions that have, among other things, the:

• Highest tuition and fees
• Highest net cost
• Largest increase in tuition and fees, as measured by percentage over the three most recent academic years

One downside to the revised legislation is that while change is on the way, it won’t happen right away. The deadline to begin making the lists publicly available on the College Navigator Web site is July 1, 2011.