Hindsight may be 20/20, but updates to the U.S. Department of Education’s College Scorecard are offering prospective students a data-driven glimpse into their future. Created from the desire to help students compare colleges. It shares critical data related to costs, graduation, and post-college earnings (Source: collegescorecard.ed.gov). Recent updates provide interested students with a more user-friendly experience, as well as improvements to data on diversity, demographics, and field of study information across degree types.
Improved Search Options for Prospective Graduate Students
College Scorecard offers a number of search options for prospective graduate students. With the recent updates, graduate students can now search by field of study for all degree levels, including post-baccalaureate certificates, master’s degrees, and doctoral degrees (Source: blog.ed.gov). Additionally, College Scorecard provides data on the number of students served by each school, the average debt load of graduates, and the median earnings of graduates four years after graduation. These search options mean prospective graduate students have improved access to transparent data about the institutions that have reputations for improving students’ lives after attendance.
Demographic Data on Campus and Faculty Diversity
College Scorecard now also provides demographic data on campus and faculty diversity. This new data gives students a better idea of campus diversity in relation to a school’s profile. Prospective students can view data on student body size, part-time to full-time ratio, socioeconomic diversity, student/faculty ratios, and race/ethnicity distributions for student bodies as well as full-time faculty (Source: blog.ed.gov).
How College Scorecard Can Help Student Loan Borrowers in the Future
In addition to increased transparency on demographic data, College Scorecard can also help borrowers make informed decisions about the potential impact of student loans and future debt. For the first time, data on College Scorecard now includes information on the median earnings of former graduates four years after completion of their requisite field of study (Source: blog.ed.gov). This information can help students better determine which institutions’ graduates take on less student loan debt, as well as graduates’ earning potential after program completion. Going forward, information will be updated for future years as it becomes available.
Knowing what to expect before committing to a program and any accompanying student loan debt means less surprises for students after graduation. This could have a substantial impact on students’ financial wellness as they enter their chosen career and set them up for future financial success.
Additional Options for Student Success
Besides College Scorecard, students need knowledge and support, especially when it comes to navigating student loans.
- Guidance on student loan options. When it comes to student loans and repayment, there is no one-size-fits-all option. Student loan borrowers should be aware of the different types of student loans they qualify for, as well as the availability of repayment options that can fit their unique financial situation.
- General financial wellness education. Postsecondary students face unique challenges when it comes to their finances. Financial education support can empower students to budget and borrow responsibly while developing life management skills to successfully navigate college and beyond.
Did you know? Attigo can help student loan borrowers get the educational and financial support they need. From student loan counseling to online financial education, we’re proud to share our 50+ years of higher education expertise to help students succeed.
