U.S. The Department of Education announces additional scorecard updates, which provide greater transparency in the progress of the borrower reimbursement and postsecondary costs January 12, 2021 Contact: Press Office, (202) 401-1576, Press @ ed.gov
  • Washington: The Department of Education of the USA UU today announced a new update to the scorecard card that offers on the promise of the administration to make higher education more transparent and responsible. University Scorecard now offers future students information about how well the borrowers of individual colleges and universities are progressing in the reimbursement of their federal student loans, as well as the way they care about the borrower's cohorts at certain intervals in the Reimbursement process.

    "Today, we continue to build on the updates we have made at the scorecard of the University in recent years, delivering even more transparency in the payment of student loans," said Secretary of Education, Mitchell Zais. "Future students can now see an integral image of how the borrowers of each institution are complying with their federal student loan obligations. This is the kind of real and unchanged information, students must make informed and personalized decisions about their education" .

    Scorecard of the University now shows the percentages of borrowers that fall into eight payments of loans two years after entering the reimbursement: they are paid in full, which makes progress, crime, The tolerance, the default value, do not make progress, postponement and downloaded loans. This new borrower-based reimbursement rate provides a more complete image of reimbursement and a better context than previous versions of the payment rates of the University of Scorecard, who only showed the proportion of borrowers that were and were not progressing.

    In addition to these payment rates based on borrowers, the data files of the University of Scorecard and the application program interface (API) have been updated to include the percentage of student loans paid by the Complete cohorts of students 1, 4, 5, 10 and 20 years after entering the refund. Next week, Scorecard will also update your data files with payment rates based on borrower for individual field study fields. These data elements will join more than 2,000 data elements available for developers and researchers.

    Future data on the status of borrowers in each institution will be available through the thistle of the university each year, it will ultimately provide a long-term perspective on how well the borrowers of Different institutions can pay their federal student loans?

    At the end of this year, College Scorecard will also be updated to include a new metric: the interannual change in the cost in each institution. Since post-secondary students often take several years to complete a credential, this update will allow potential students to understand the changes in interannual costs that they can expect to see in each institution when determining whether the value of that institution coincides with the general cost.

    These updates follows the total renewal of SCORECARD of the University in November 2019, which allowed users to compare the data of the median debt and gains per field of study, not only by the institution, by first time. In December 2020, the Secretary DeVos continued to fulfill the executive order of March 2019 to improve research, transparency and free responsibility at universities and universities, including more parents' loan data at the first time. The updates made today advance today the objective of the administration of providing transparency and accountability in higher education by empowering students to make informed decisions.

  • Tags: College Scorecardpress releases

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