Yale launched a more sophisticated online financial aid calculator on its admissions website last Tuesday in response to a federal law passed three years ago, Yale Daily News reports. The new calculator aims to simplify the financial aid process for both prospective freshmen and current students. While Yale has offered a financial aid calculator since 2008, other colleges and universities are adding this tool to their websites to comply with a federal law that requires higher education institutions that participate in Title IV federal student aid programs to provide an online tool for calculating the “net price” of tuition and other fees by an Oct. 29 deadline…

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