9/26/20131. u.s. department of education michael itzkowitz, special advisor postsecondary...
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U.S. Department of Education
Michael Itzkowitz, Special Advisor Postsecondary Education
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◦ College Affordability and Transparency Center◦ College Scorecard◦ College Navigator◦ Financial Aid Shopping Sheet◦ StudentAid.gov
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College Choice: Consumer Information Tools
5 key data elements include: (1)net price, (2)graduation rates, (3)default (or repayment) rates; (4)mean and median debt; and (5)employment outcomes.
ED produced
Institution producedInstitution produced
Private Sector or Gov’t
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College Affordability and Transparency Center
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College Affordability and Transparency Center – Cosmetology Programs
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College Affordability and Transparency Center
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College Scorecard Search Screen
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College Scorecard
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College Scorecard• Institutions are compared to “similar institutions” on each of the
measures, defined as the predominant undergraduate award granted• Primarily bachelor’s degree-granting• Primarily associate’s degree-granting• Primarily certificate granting
• To be updated annually• Future developments:
• Explore providing a Scorecard for all institutions• Currently, 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).
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College Scorecard DataMetric Where does the Data Come From Source
Costs • Average net price for undergraduates at the institution for academic year 2010-11.
• Comparison - Average net prices among institutions that primarily grant the same level of award.
• Changes in net price – Looks at 2007 – 2009
IPEDS
Graduation Rate
• First-time, full-time degree or certificate-seeking undergraduate students who began at the institution.
• Comparison – institutions who grant primarily same type of degree.
• Primarily bachelor’s degree-granting - students beginning in Fall 2005 and seeking a bachelor’s degree (6 years).
• Primarily associate’s degree-granting institutions and primarily certificate-granting institutions, the graduation rate displayed is for students beginning in Fall 2008 (3 years). If the institution reports transfer out rates for first-time, full-time students, that rate is displayed as well.
IPEDS
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College Scorecard DataMetric Where does the Data Come From Source
Loan Default Rate
• Institution’s three-year Federal student loan cohort default rate.
• 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.
NSLDS
Median Borrowing
• 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.
• Estimated monthly repayment amount has been calculated using the Department’s standard graduated repayment calculator based on an interest rate of 6.8%
NSLDS
Employment • Data has not yet been released9/26/2013 12
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College Choice: Consumer Information Tools
5 key data elements include: (1)net price, (2)graduation rates, (3)default (or repayment) rates; (4)mean and median debt; and (5)employment outcomes.
ED produced
Institution producedInstitution produced
Private Sector or Gov’t
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• ED’s college search tool• Over 2.5 million site visits over the last year• Wealth of information on the over 7,400
postsecondary institutions participating in the Federal financial aid programs
• Populated by the Integrated Postsecondary Education Data System (IPEDS) and data from the Office of Postsecondary Education (OPE) and the Office of Federal Student Aid (FSA)
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• General information• Admissions requirements• Tuition & fees and average net price• Programs and majors/fields of study offered• Retention and graduation rates• Campus safety and security• Accreditation• Cohort default rates
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http://collegenavigator.ed.govhttp://collegenavigator.ed.gov9/26/2013 16
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College Choice: Consumer Information Tools
5 key data elements include: (1)net price, (2)graduation rates, (3)default (or repayment) rates; (4)mean and median debt; and (5)employment outcomes.
ED produced
Institution producedInstitution produced
Private Sector or Gov’t
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Stage of choice process: choosing where to enroll Standardized, clear, and concise format for
providing prospective students their personalized financial aid offer
Designed to help prospective students and their families better understand the costs of college before making the final decision on where to enroll
Identifies the type and amount of aid qualified for and allows for easy comparison of aid packages offered by different institutions
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Financial Aid Shopping Sheet:
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Current “graduation rate survey” as reported to the National Center for Education Statistics under IPEDS
Current “cohort default rate” as calculated by the Department
Institution must use this form for service members and veterans if they sign on to the principles of excellence but our preference would before them to use this type of form for all students.
NEW “median debt” calculated by the Department
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Annotated Shopping Sheet: This describes and clarifies the elements on the Shopping Sheet.
Institutions that have adopted the Shopping Sheet Financial Aid Shopping Sheet FAQs HTML specifications for the Shopping Sheet Institutional Metric Data File for the Financial Aid
Shopping Sheet
Over 1600 institutions have adopted the Shopping Sheet.
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StudentAid.gov
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What is StudentAid.gov?
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Federal Student Aid’s new streamlined website with comprehensive information on the student aid lifecycleReleased July 15, 2012Associated sites:
•www.Facebook.com/FederalStudentAid•www.Twitter.com/FAFSA•www.YouTube.com/FederalStudentAid
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YouTube: “Prepare for College” Playlist
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StudentAid.gov: Things to Consider
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StudentAid.gov/resources#consumer-protection
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StudentAid.gov: FAFSA4caster Info
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YouTube: Responsible Borrowing Video
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Financial Awareness Counseling: StudentLoans.gov
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StudentAid.gov: Repayment Plans
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Comparing Colleges Brochure
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Comparing Colleges Brochure
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Websites: Comparing Colleges Brochure:
StudentAid.gov/comparingcolleges College Affordability and Transparency Center:
Collegecost.ed.gov College Scorecard: collegecost.ed.gov/scorecard Financial Aid Shopping Sheet: www.ed.gov/financial-
aid-shopping-sheet College Navigator – nces.ed.gov/collegenavigator StudentAid.gov
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Email us:
Michael Itzkowitz [email protected]
Financial Aid Shopping Sheet – [email protected]
College Scorecard – [email protected]
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