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College Choice Tools: How the Department of Education Is Helping Students Make Informed Decisions About Higher Education September 26, 2013. Presenters. U.S. Department of Education Michael Itzkowitz, Special Advisor Postsecondary Education. College Choice: Consumer Information Tools.

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  1. College Choice Tools:How the Department of Education Is Helping Students Make Informed Decisions About Higher EducationSeptember 26, 2013

  2. Presenters • U.S. Department of Education • Michael Itzkowitz, Special Advisor Postsecondary Education

  3. College Choice: Consumer Information Tools • College Affordability and Transparency Center • College Scorecard • College Navigator • Financial Aid Shopping Sheet • StudentAid.gov

  4. College Choice: Consumer Information Tools • 5 key data elements include: • net price, • graduation rates, • default (or repayment) rates; • mean and median debt; and • employment outcomes. ED produced Institution produced Private Sector or Gov’t

  5. College Affordability and Transparency Center

  6. College Affordability and Transparency Center – Cosmetology Programs

  7. College Affordability and Transparency Center

  8. College Scorecard Search Screen

  9. College Scorecard

  10. 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).

  11. College Scorecard Data

  12. College Scorecard Data

  13. College Choice: Consumer Information Tools • 5 key data elements include: • net price, • graduation rates, • default (or repayment) rates; • mean and median debt; and • employment outcomes. ED produced Institution produced Private Sector or Gov’t

  14. College Navigator • 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)

  15. College Navigator • 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

  16. http://collegenavigator.ed.gov

  17. College Choice: Consumer Information Tools • 5 key data elements include: • net price, • graduation rates, • default (or repayment) rates; • mean and median debt; and • employment outcomes. ED produced Institution produced Private Sector or Gov’t

  18. Financial Aid Shopping Sheet: • 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

  19. Financial Aid Shopping Sheet: 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. Current “graduation rate survey” as reported to the National Center for Education Statistics under IPEDS Current “cohort default rate” as calculated by the Department NEW “median debt” calculated by the Department

  20. Financial Aid Shopping Sheet:Website • 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.

  21. StudentAid.gov

  22. What is StudentAid.gov? • Federal Student Aid’s new streamlined website with comprehensive information on the student aid lifecycle • Released July 15, 2012 • Associated sites: • www.Facebook.com/FederalStudentAid • www.Twitter.com/FAFSA • www.YouTube.com/FederalStudentAid

  23. YouTube: “Prepare for College” Playlist

  24. StudentAid.gov: Things to Consider

  25. StudentAid.gov/resources#consumer-protection

  26. StudentAid.gov: FAFSA4caster Info

  27. YouTube: Responsible Borrowing Video

  28. Financial Awareness Counseling: StudentLoans.gov

  29. StudentAid.gov: Repayment Plans

  30. Comparing Colleges Brochure

  31. Comparing Colleges Brochure

  32. Resources • 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

  33. Questions? Email us: • Michael Itzkowitz Michael.Itzkowitz@ed.gov • Financial Aid Shopping Sheet – Shoppingsheet@ed.gov • College Scorecard – CollegeScorecard@ed.gov

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