Compare the cost of Simpson to other colleges across the nation.
High school prospective students can now use an interactive College Scorecard to figure how much it costs to attend various colleges across the nation.
President Barack Obama and the United States Department of Education have released a college scorecard that helps students evaluate the costs, value and quality of colleges.
According to the Washington Sun, President Obama stated at the State of the Union Address on Feb. 12 that he has strong desires to help reduce college costs to provide a higher education to more students across the country.
“Through tax credits, grants and better loans, we’ve made college more affordable for millions of students and families over the last few years, but taxpayers can’t keep on subsidizing higher and higher and higher costs for higher education,” Obama said. “Colleges must do their part to keep costs down, and it’s our job to make sure that they do.”
The College Scorecard, which can be found on the White House’s Web site, gives students the option to select a college of their wishing. From there, they can view college costs, graduation rates, loan default rates and average loans taken by these students.
The United States Department of Education also plans to publish employment rates out of nationwide colleges.
In order to attend Simpson College, according to the College Scorecard, costs per year reaches an average of $19,044, which rates high on the scale provided by the scorecard. The graduation rate is 68.8%, while loan defaults occur among 4.2% of students compared to the national average of 13.4%.
Other major universities in the state of Iowa have much lower numbers with the cost of attending the University of Iowa at $14,235 and the cost of attending Iowa State University at $13,554. Graduation rates at the two universities are also higher at 70.8% and 67.5%.
To compare to other private colleges in the Iowa Intercollegiate Athletic Conference, Central College costs $20,786 and their graduation rate is 63.4%. Buena Vista University boasts a cheaper education with $16,987 per academic year, but they also have the lowest graduation rate at 54.9% and 5.2% of their students default on their loans.
Don’t take this College Scorecard too seriously yet, as the New York Times has discovered experts that are skeptical of this system.
Experts have agreed that there are still many blanks that need to be filled in. Also reported by the New York Times, the data isn’t current, as most of it is a few years old.
Terry W. Hartle, senior vice president of the American Council on Education, has stated that the scorecard is “not a game changer as much as the administration would like to believe.”
As soon as the United States Department of Education releases employment rates based out of these colleges, it is believed that this system will become more depended on by students in the country.