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How to use the College Scorecard
College Scorecard was created by the U.S. Department of Education in an effort to provide prospective students with all the information they need to make informed decisions about their college and career goals. The College Scorecard provides statistics on student loan default rates, graduation rates, and more, as well as school-specific net price calculators and loan repayment estimators that help you get a handle on what it might cost you after graduation. This can help you make an informed decision about whether or not you can realistically afford that dream college you have your eye on – or if it’s time to look into other options.
see How to Demonstrate Financial Need for a Scholarship
What’s New
On March 16, 2015, President Obama unveiled a new college scorecard that includes a trove of new data about higher education in America. The president said he plans on using these data to make choices about which colleges and universities receive federal funding. He also mentioned several tools that prospective students and their families can use to make decisions about higher education.
The new scorecard includes information about every college in America that accepts federal financial aid, which is nearly all accredited, Title IV institutions. It shows how much students are borrowing and how much debt they’re leaving school with after graduation. The data also helps inform students about college success rates – including graduation rates and student loan repayment rates – as well as how much money a graduate can expect to earn 10 years after enrolling.
The college scorecard also gives students an idea of how a specific school is performing in terms of access, affordability and outcomes. The scorecard breaks down these measurements by ethnicity, income and gender. For example, it shows that Black students with family incomes under $30,000 are more likely than their peers to complete a bachelor’s degree at a four-year public institution in six years or less.
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The president’s new scorecard also includes information about how much graduates can expect to earn after leaving school. As expected, earning a degree is correlated with higher wages – but there are some discrepancies based on which type of college you attend. Students who graduate from public or private not-for-profit schools tend to see bigger wage gains than students who graduate from for-profit institutions, which typically offer shorter programs and degrees in technical fields.
SEE Find Out How to Get Student Loan Forgiveness
How to use the College Scorecard
Data Sources
The most current data is taken from a variety of sources, including U.S. Department of Education datasets, tax information and other resources. The Department of Education pulls data directly from colleges and universities themselves on an annual basis. Any additional data is sourced from third parties such as Forbes, Lumina Foundation and others
Data Source – Third Paragraph: The data provided by College Scorecard is more than 10 years old, with information dating back to 2003. In many cases, schools have changed their names or merged in that time period. For example, Southern Maine Community College (SMCC) and Southern Maine Technical College (SMTC) recently combined forces and became Penobscot Community Collage (PCC). Since 2013 they’ve been known as PCC.
Data Source – Third Paragraph: The Department of Education does not provide all of its data in an accessible way. Some institutions are only provided as part of a larger dataset and it’s up to your organization to decide how valuable it is, then retrieve that data.
Data Source – Third Paragraph: This data is sourced directly from colleges and universities in PDFs that they provide as part of their application process. One example is Springfield Technical Community College (STCC) in Massachusetts. STCC has a handbook available on its website with all sorts of helpful information, including a student handbook and data on employment rates after graduation. It’s provided in PDF format, which means it can be downloaded and read easily.
How to use the College Scorecard
Reports
The first tab under scorecard is called Reports. This page allows you to see a list of reports related to your search criteria or view all available reports. After choosing a report, you can download it in PDF format, share it on social media or print it out if you would like a hard copy.
The next tab under scorecard is called Advanced Data. This page allows you to perform more in-depth analysis of a college’s data. The main feature on here is My Colleges, which allows you to search for colleges by name and see their profiles as well as any statistics related to that school. You can even add them to your My Colleges list for later viewing.
The next tab under scorecard is called Compare Colleges. This page allows you to compare 2 colleges side by side, so you can get a better idea of which college will work best for you. It has several tabs at the top that allow you search by name, program or state. You also have access to previous schools viewed and saved in My Colleges.
The next tab under scorecard is called About Us. This page allows you to find out more about how and why College Scorecard was created as well as what their mission statement is. This page also lets you know how you can help contribute data to make College Scorecard even better for everyone.
How to use the College Scorecard
Demographics
A useful demographic feature of College Scorecard is it allows you to narrow your search down by state. This can help you find more specific statistics and might be helpful for students whose parents only have access to data from their home state. For example, if a student wanted to narrow down his options for schools in New York, he could visit the New York page and filter his search by college types (public or private), degree level, admissions rate and graduation rate.
If you are trying to understand your own prospects and chances of acceptance, there is also a breakdown of applicant race and income level. For example, in New York state over 50% of undergraduate students were male in 2013 and approximately 20% were low-income. If you know your family’s financial situation, these statistics can be especially helpful.
The demographics feature also breaks down ethnicity by race. If you’re trying to choose a college based on specific racial statistics, you can use these filters as well. As an example, if you are black or African American and want to see what proportion of students at different colleges is black or African American, visit their state pages and sort your results by race. You can also do similar searches for white people and Asian people.
Many students choose a college based on its diversity. If you’re trying to pick between colleges in New York, for example, and are specifically looking for schools with higher proportions of Asian or Hispanic people, you can sort your results accordingly. This can be especially useful if you want to attend a school that reflects your race or ethnicity.
How to use the College Scorecard
Financial Aid
The financial aid section of a college’s website will typically be where you’ll find information on cost of attendance, financial aid requirements, tuition costs and payment options. You can also check out Financial Aid Web , which has compiled everything you need to know about financial aid in one place.
To start, you’ll need to calculate how much college will cost. It sounds simple enough, but it’s important to remember that there are many factors that impact tuition, like your program of study and where you live. Because tuition rates can vary from school to school, it helps to shop around. The better informed you are about other schools and programs of study, the easier it will be for you to make an informed decision about what school fits best with your lifestyle and academic goals.
Once you’ve decided on a school, you’ll want to look into their financial aid offerings. Most colleges offer some type of financial aid, so it helps to ask about their options. Financial aid programs can include grants, scholarships and loans—with each program offering different types of awards.
In addition to federal aid, most colleges and universities offer their own financial aid programs. To find out what is available, visit your school’s website or call their admissions office. Your school’s financial aid officer can provide information on all of their financial aid options as well as answer any questions you may have about how they work.
How to use the College Scorecard
Costs and Prices
The costs of attending a specific school are an important factor in determining whether it’s a worthwhile investment. There are two main factors that can affect college costs: annual tuition and fees, and cost of living expenses. These estimates do not include expected family contributions or merit-based scholarships; you may have to pay for these out-of-pocket if you get them.
Annual tuition and fees can vary greatly between schools, even if they’re in similar cities or regions. The average tuition across all colleges and universities is $19,339. This average includes any fees associated with enrollment as well as undergraduate and graduate tuition. Community colleges charge an average of $3,435 annually, while four-year private schools can be up to $42,419 per year.
All colleges collect a tuition and fees charge, though some schools have additional costs that aren’t covered by these tuition charges. For example, at some universities, you may have to pay an application fee or purchase a textbook bundle when you register for classes. The cost of room and board is also not included in these estimates, so living on campus could add $9,440 or more per year to your expenses.
The total cost of attendance is more than just tuition and fees. Many schools also charge students for items that are not included in tuition, such as books, transportation, and room and board. The average cost of these additional expenses is $10,058. However, depending on where you live and how much you choose to spend on living expenses, your overall cost of attendance could be much higher or lower than that amount.
How to use the College Scorecard
4-year Graduation Rates
This is based on a six-year graduation rate, including students who transfer out. The college’s overall Graduation Rate for Freshmen is 77%, which means 77% of freshman students graduate from that school within 6 years after first starting there as freshmen. This only takes into account first-time, full-time students who started in 2011 and graduated between 2011 and 2016.
3-year Graduation Rates:
3-year Graduation Rates – Second Paragraph: Completion Rate: What is completion rate?
Completion Rate – Second Paragraph: Performance of Underrepresented Students: This metric measures how well colleges are doing in recruiting and graduating students from underrepresented backgrounds. The report takes into account two types of underrepresented students, which include first-generation college students and low-income students.
For more detailed information, view your school’s report on its profile page on College Scorecard.
College Scorecard – Second Paragraph: Where does College Scorecard data come from?
College Scorecard – Second Paragraph: Where does College Scorecard data come from?
The national student loan default rate decreased in 2016, according to a report released by ED on July 26, 2017.
The Education Department releases a report every year with default rates for federal student loans, which includes borrowers who began repaying their loans in 1995.
How to use the College Scorecard
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