<p>The study examines existing weaknesses in assessing the economic value of higher education from the perspective of the consumer, rooted in the lack of individualized pricing data. Despite decades of policy efforts aimed at improving tuition transparency, students and researchers remain constrained by publicly available institutional averages and opaque pricing structures that obscure the actual costs paid by individual students. To address this problem, a novel dataset is introduced comprising crowdsourced financial aid award letters and student demographic information, offering a rare and actionable view into real college prices. The paper offers an overview of the historical and conceptual underpinnings of tuition opacity; critiques the limitations in existing public data sources; and presents illustrative empirical insights from a case study of four universities within a single state. By comparing publicly reported prices with actual prices paid, findings reveal that publicly reported pricing metrics often misrepresent the true costs students face, with significant implications for equity, access, and decision-making. The paper calls for a new transparency paradigm that centers students’ unique contexts and argues that the absence of individualized pricing data is not merely a technical limitation but a fundamental barrier to evaluating affordability, equity, and return on investment in postsecondary education.</p>