The College Scorecard
Sometimes we pump out information before a chat to make sure that everyone has access to things we'll be discussing. Well, we're sure you've all done your homework on the College Scorecard. Just in case you'd like a little extra light reading on your way home from work today:
Huffington Post on the Scorecard
The Wall Street Journal on the Scorecard
Center for American Progress on the Scorecard
See everyone tonight at 9EST!
If you don't feel like reading through any of these...this is where the data comes from. I copied this from the site:
Undergraduate Enrollment
The total undergraduate student enrollment at the institution in Fall 2011 is displayed.
Undergraduate student enrollment counts come from an institution’s annual submission to the U.S. Department of Education’s Integrated Postsecondary Education Data System (IPEDS). For more information about IPEDS, please visit http://nces.ed.gov/ipeds/about.
Costs
Costs refer to the average net price for undergraduates at the institution for academic year 2010-11.
The institution’s average net price is displayed with an indication of how it compares with average net prices among institutions that primarily grant the same level of award. For example, the comparison group for an institution that primarily awards bachelor’s degrees is all institutions that primarily award bachelor’s degrees.
Per the Higher Education Opportunity Act of 2008 (HEOA), College Affordability and Transparency Lists are posted annually to the College Affordability and Transparency Center at http://collegecost.ed.gov. The most recent lists look at changes in average net price from 2007 – 2009, which is also displayed in this section of the Scorecard.
The HEOA defines institutional net price as “the average yearly price actually charged to first-time, full-time undergraduate students receiving student aid at an institution of higher education after deducting such aid.” Data used to calculate average net price come from an institution’s annual submission to the U.S. Department of Education’s Integrated Postsecondary Education Data System (IPEDS). For more information about IPEDS, please visit http://nces.ed.gov/ipeds/about.
Graduation Rate
The graduation rate displayed is for first-time, full-time degree or certificate-seeking undergraduate students who began at the institution. For primarily bachelor’s degree-granting institutions, the graduation rate displayed is for students beginning in Fall 2005 and seeking a bachelor’s degree. For primarily associate’s degree-granting institutions and primarily certificate-granting institutions, the graduation rate displayed is for students beginning in Fall 2008. If the institution reports transfer out rates for first-time, full-time students, that rate is displayed as well.
The institution’s graduation rate is displayed with an indication of how it compares with graduation rates among institutions that primarily grant the same level of award. For example, the comparison group for an institution that primarily awards bachelor’s degrees is all institutions that primarily award bachelor’s degrees.
Data used to calculate an institution’s graduation rate and transfer-out rate, if applicable, come from an institution’s annual submission to the U.S. Department of Education’s Integrated Postsecondary Education Data System (IPEDS). For more information about IPEDS, please visit http://nces.ed.gov/ipeds/about.
Loan Default Rate
Loan default rate refers to the institution’s three-year Federal student loan cohort default rate. This is the percentage of an institution’s borrowers who entered repayment on certain Federal student loans in federal fiscal year 2009 (between October 1, 2008 and September 30, 2009) and who defaulted before September 30, 2011. The national cohort default rate is also displayed.
Data used to calculate an institution’s cohort default rate come from the U.S. Department of Education’s National Student Loan Data System (NSLDS). For more information about the cohort default rate, please visit http://www2.ed.gov/offices/OSFAP/defaultmanagement/cdr.html.
Median Borrowing
The median amount of Federal student loans borrowed for students' undergraduate study at the institution is displayed. The estimated monthly repayment amount is also displayed.
The monthly repayment amount is displayed with an indication of how it compares with monthly repayment amounts among institutions that primarily grant the same level of award. For example, the comparison group for an institution that primarily awards bachelor’s degrees is all institutions that primarily award bachelor’s degrees.
Data used to calculate the median amount of Federal student loans borrowed by students for their undergraduate study is from the U.S. Department of Education’s National Student Loan Data System (NSLDS). Data represent all undergraduate borrowers who graduated or withdrew from the institution between July 1, 2010, and June 30, 2011. All Federal loans for undergraduate study, including Parent PLUS loans, are included for this cohort of borrowers. Only the debt associated with the students’ attendance at the institution is included in the calculation. The estimated monthly repayment amount has been calculated using the Department’s standard graduated repayment calculator based on an interest rate of 6.8%. For more information about repayment calculators and interest rates, please visit http://studentaid.ed.gov/repay-loans/understand/plans.
Note that a student’s actual borrowing, interest rate, and monthly repayment amount may be different.
Employment
The U.S. Department of Education is working to provide this information.
In the meantime, students should ask the institution about how many of its graduates get jobs, what kinds of jobs they get, and how much they typically earn. Institutions that participate in the Federal student financial aid programs are required by the Higher Education Opportunity Act of 2008 (HEOA) to disclose to current and prospective student certain information regarding placement in employment and job placement rates.
Download the data file used for the College Scorecards (last updated February 2013): Excel format, CSV format.
College scorecards have been developed for Title IV degree-granting institutions that operate on a traditional calendar system (e.g., semester, trimester, or quarter calendar).