9/26/20131

 U.S. Department of Education  Michael Itzkowitz, Special Advisor Postsecondary Education 9/26/20132

◦ College Affordability and Transparency Center ◦ College Scorecard ◦ College Navigator ◦ Financial Aid Shopping Sheet ◦ StudentAid.gov 9/26/20133

College Choice: Consumer Information Tools CATC* with ScoreCards Quick view -- 5 key data elements -- of institutions on critical measures to help students decide where to consider applying College Navigator* More detailed information about institutions to help students decide where to apply Financial Aid Shopping Sheet “Know Before You Owe” Model Aid Offer Form with graduation & default (or repayment) rates to help students decide where to enroll Aid Offer Comparison Tool Private sector (or gov’t) tool to facilitate comparisons of aid offers 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 produced Private Sector or Gov’t 9/26/20134

College Affordability and Transparency Center 59/26/2013

College Affordability and Transparency Center – Cosmetology Programs 69/26/2013

College Affordability and Transparency Center 9/26/20137

College Scorecard Search Screen 89/26/2013

College Scorecard 99/26/2013

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). 9/26/201310

College Scorecard Data MetricWhere does the Data Come FromSource Costs Average net price for undergraduates at the institution for academic year 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 9/26/201311

College Scorecard Data MetricWhere does the Data Come FromSource 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, 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, 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 released 9/26/201312

College Choice: Consumer Information Tools CATC* with ScoreCards Quick view -- 5 key data elements -- of institutions on critical measures to help students decide where to consider applying College Navigator* More detailed information about institutions to help students decide where to apply Financial Aid Shopping Sheet “Know Before You Owe” Model Aid Offer Form with graduation & default (or repayment) rates to help students decide where to enroll Aid Offer Comparison Tool Private sector (or gov’t) tool to facilitate comparisons of aid offers 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 produced Private Sector or Gov’t 9/26/201313

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) 9/26/201314

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 9/26/201315

9/26/201316

9/26/201317

9/26/201318

College Choice: Consumer Information Tools CATC* with ScoreCards Quick view -- 5 key data elements -- of institutions on critical measures to help students decide where to consider applying College Navigator* More detailed information about institutions to help students decide where to apply Financial Aid Shopping Sheet “Know Before You Owe” Model Aid Offer Form with graduation & default (or repayment) rates to help students decide where to enroll Aid Offer Comparison Tool Private sector (or gov’t) tool to facilitate comparisons of aid offers 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 produced Private Sector or Gov’t 9/26/201319

 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 9/26/201320

Financial Aid Shopping Sheet: 21 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 9/26/2013

 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. 9/26/201322

StudentAid.gov 23

What is StudentAid.gov? 24 Federal Student Aid’s new streamlined website with comprehensive information on the student aid lifecycle Released July 15, 2012 Associated sites:

YouTube: “Prepare for College” Playlist 259/26/2013

StudentAid.gov: Things to Consider 269/26/2013

StudentAid.gov/resources#consumer-protection 279/26/2013

StudentAid.gov: FAFSA4caster Info 289/26/2013

YouTube: Responsible Borrowing Video 299/26/2013

Financial Awareness Counseling: StudentLoans.gov 309/26/2013

StudentAid.gov: Repayment Plans 319/26/2013

Comparing Colleges Brochure 9/26/201332

Comparing Colleges Brochure 9/26/201333

 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: aid-shopping-sheet  College Navigator – nces.ed.gov/collegenavigator  StudentAid.gov 9/26/201334

us:  Michael Itzkowitz  Financial Aid Shopping Sheet –  College Scorecard – 9/26/201335