Applying to college is one of the most exciting experiences you’ll ever have, but it can also be nerve-wracking and anxiety-inducing. After all, there are thousands of colleges and universities all over the country, and quite a few good ones.
So how do you choose the right college for you?
Well, a little secret: College scorecard can make things easier by showing you important statistics, including average annual spending for each school, post-graduation salary, and average student loan debt..
In a statement to Money Under 30, a US Department of Education spokesperson said that:
“For the first time since 2018, the Department is releasing college-level income data that provides a broad picture of the career outcomes of university graduates.”
US Secretary of Education Miguel Cardonaalso added in a statement that the latest College Scorecard update:
“emphasizes accessibility, inclusiveness, and results, rather than exclusivity and colleges that leave students without good jobs and mountains of debt.”
Translation: You’ll get a clear overview of each school so you can choose the one that leads to better career outcomes and less debt. Here’s how.
What is a college scorecard?
The College Scorecard is an online tool created by the Department of Education to help undergraduate students (like you) make informed decisions when it comes to choosing a higher education institution.
The website features both institution-level and field-of-degree data, which means you’ll not only get an overview of college costs, graduate numbers, and median graduate earnings—among other things—but you’ll also see results by major.
What’s great about College Scorecard is that it works like an online marketplace (think Amazon or eBay minus bidding), but for college.
There, you’ll find individual statistics from over 5,000 colleges across the country, and you can also click and compare both institutions and majors to pick the one that gives you the best results.
The College Scorecard is completely free and you can access it by visiting collegescorecard.ed.gov.
How a College Scorecard Can Help You Choose the Best College for You
Search schools based on proximity, alumni, enrollment, etc.
According to a recent US News pollthere is a fee of $45 to $100 to apply to the college.. While these amounts may seem small, they can quickly add up to several hundred dollars, depending on how many schools you want to try your luck with.
If you’re looking to save money and get the most out of each app by limiting your options to schools that meet certain criteria, a college scorecard can help you narrow down your list.
You can view statistics for just about any school you’re interested in, as well as view schools by major, distance from where you live, highest graduation rates, percentage of incoming applicants – or all three among other options.
Here is an example of how it works.
If you go to the general College Scorecard search bar, you will see that there are over 5,600 colleges across the country.
However, if you are only interested in schools that offer a bachelor’s degree in computer science, for example, your search results are automatically reduced to less than 700 institutions, as you can see below.
You can also further refine your search by sorting the results alphabetically, by number of graduates, average annual cost, and the percentage of graduates who earn more than those who work in the same field and have only a high school diploma.
Weighing different specialties
When I started going to college, I was torn between biology and chemistry. Ultimately, I chose chemistry as I saw more career potential (although I switched again). But if you’re in a similar predicament and can’t decide which major you want to take, here’s how a College Scorecard can help.
When you go to the top right corner of the website, you will see these two icons:
The one with the small building on the left allows you to compare institutions (more on that later)and the one with the tape on the right allows you to compare different specialties using these three indicators:
- Salary upon graduation.
- Average student loan debt among graduates.
- The number of students who successfully completed the program.
The main comparison tool is especially useful when you are trying to decide between two closely related main areas (as below) as it can help you choose the one with the best career results.
You can also use this tool to compare how students who study the same program but from different universities have completed their studies. This can be very useful if you have already decided on a specialty, but not on a university, and want to choose the one whose graduates are the most successful.
Compare colleges side by side
Remember the green icon on the left with the small building? This is a College Scorecard school comparison tool.
The site’s school comparison tool allows you to view statistics for up to 10 colleges and compare them with each other.
Some of the statistics you will be able to compare include:
- Average annual cost.
- Graduation course.
- Average earnings after graduation.
- Socio-economic diversity.
- Student diversity.
- Average scores for tests and the percentage of accepted.
- Percentage of students receiving federal student loans.
- Average debt after graduation.
- Average monthly student loan payment.
- Repayment speed.
In addition, you will also see general information about the schools, including the size of the student body, whether public, private non-profit, or for-profit, and the location of the school in an urban, rural, or suburban area.
In other words, you will be able to get a comprehensive overview of every school you are interested in.
This in turn will allow you to narrow down the application pool or make the final choice (if you are in the final stages), depending on which institution best suits your background, family finances, and alumni expectations.
You can also find information about associate degrees and certificate programs.
Not everyone is interested in pursuing a four-year degree after high school, and that’s okay too. Those with hundreds of thousands of dollars in student loans might even say it’s a smarter decision.
More: College vs. Trade School – Which one is right for you?
Actually, according to the Bureau of Labor Statistics, those with an associate’s degree earn more than $46,000 a year, about $8,000 more than those with just a high school diploma. Meanwhile, some certifications can lead to a salary of up to $74,845 per year. according to Valid.
If you are interested in using either of these two options, simply go to the College Scorecard homepage and click “show me options”.
There you will be able to check the type of educational program you want to choose and your results will be limited to schools that offer that type of program. You can also refine your search by academic field and location, just to name a few.
Why It’s Important to Consider Your Options Before Choosing a College
I remember when I was choosing colleges a few years ago, I studied everything: school equipment, professors, majors offered, even joint programs.
However, I overlooked an important factor: how much would my chosen college cost, plus the average salary at the start of my career in my major.
This led to massive the amount of student loan debt combined with a not very high salary – both of which made me put off things like buying a house or starting a family for several years (and I yet I’m working on it).
More: How to manage student loan debt
That’s why it’s so important to put everything together before deciding on a school to make sure you’re getting a valuable and affordable education that can lead to a successful career.
Summary
Going to college is definitely a milestone that can change your life forever. When weighing your options, make sure you choose a school that not only meets your academic needs and career expectations, but also one whose graduates excel after college.
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