The Department of Education announced updates to the College Scorecard to help students, parents, school counselors, and anyone with a vested interest in higher education make informed decisions about college choices.
“For so many students and families, the college search process can be overwhelming. But easily accessible, high-quality information about higher education institutions can help students determine which college or university is the best fit for them,” said U.S. Secretary of Education Miguel Cardona.
“The updated and enhanced College Scorecard shines a spotlight on affordability, inclusivity, and outcomes, over exclusivity and colleges that leave students without good jobs and with mountains of debt. This update reflects the Biden-Harris administration’s commitment to ensuring students remain at the heart of the Department’s work,” he expressed.
College Scorecard updates include an annual refresh of the cumulative loan debt of student borrowers by institutional level and by field of study within each institution, and federal student loan repayment rates for the institution.
A rollback of data covering institutional level earnings gives a clear picture of what alumni may earn post-graduation. There will also be a comparison of the percentage a college graduate would make over a high school graduate. The information will appear on its data files and the consumer website for the first time since 2018.
The new College Scorecard format will reflect which colleges aim to be more accessible and serve all students regardless of race. The data will also highlight the colleges and universities that are closing the completion gaps within ethnic groups, ensuring that programs lead to positive career outcomes without burying students in mountains of debt.
The new information updates align with the Biden Administration’s goals to limit the barriers for students of color and hold institutions accountable. Secretary Cardona laid out the new updates of the College Scorecard on Monday, February 7, during the 2022 Community College National Legislative Summit, an event that brings together hundreds of community college leaders from across the country.