School says tool shows tuition could be affordable

Wellesley College has launched a tool on its website to give prospective students a quick estimate of the cost of attending the private liberal arts school.

Officials at the women's college near Boston say they don't want the school's $57,000-a-year sticker price to be discouraging.

The quick college cost estimator tool is meant to show students how much financial aid they could get, and what the real cost of attending the school would be.

Economics professor Phillip Levine created the tool and says its handful of questions take five minutes.

He believes the tool could work for estimating costs at similar colleges and hopes its use will become widespread.

An analyst at Institute for College Access and Success says a quick estimate would be useful as a starting point, but wouldn't provide a price guarantee.