Obama Rolls Out College Scorecard on New Federal Website
September 12, 2015 — 3:39 PM MST
Georgia Institute of Technology may be one of the best higher education values for low-income students in the U.S., while students seeking a high chance of graduating from a public school should probably choose the University of Virginia, according to a new government scorecard.
The cheapest school for low-income students who want to make money? Surprisingly, the data suggest it’s Harvard University, one of the priciest universities in the nation.
Those are some of the results of data crunching by the U.S Department of Education, compiled on a new federal government website that is meant to provide students with more precise metrics to guide their college choices.
The website was introduced by President Barack Obama in his weekly radio address Saturday, after his administration in June abandoned a more aggressive plan to rate colleges against one another as a way to control costs and make sure students were getting the best value for their tuition dollar.
“Many existing college rankings reward schools for spending more money and rejecting more students -– at a time when America needs our colleges to focus on affordability and supporting all students who enroll,” Obama said, touting the importance of the new site,
www.collegescorecard.ed.gov.
It does not provide a single head-to-head ranking of universities, which was part of the earlier proposal criticized by some college presidents. However, it does highlight groups of schools that do particularly well in metrics like graduation rates, cost to low-income students, and salaries of graduates.
High Incomes
The list of schools with low costs that lead to high incomes contains some of the most expensive colleges in the country, including Harvard, the Massachusetts Institute of Technology, Yale University and Williams College, a liberal arts college.
But tuition for low-income students at those schools is heavily subsidized by others who pay full price, and the data suggest that for students from families making less than $48,000 a year, they are a good deal. Harvard was the best bargain, at an average net
price of $3,386 and median earnings of $87,200 for alumni 10 years out of college.
Virginia, at 93.2 percent,
topped the list of graduation rates from public four-year colleges.
Georgia Tech, the Atlanta university with a nationally-ranked computer-science program, made both lists, making it one of the best values in higher education. More than 80 percent of first-time, full-time students go on to graduate from Georgia Tech, whose alumni earned a median salary of $74,000 a decade after graduating.
Obama Rolls Out College Scorecard on New Federal Website