U.S. Department of Education Updates College Scorecard
In the interest of transparency, the U.S. Department of Education is updating College Scorecard to have it provide prospective students with “information on how well borrowers from individual colleges and universities are progressing in repaying their federal student loans, as well as how overall borrower cohorts are faring at certain intervals in the repayment process,” according to the Department of Education.
Among other new features, the scorecard will show percentages of borrowers in various loan repayment statuses two years after entering repayment: paid in full, making progress, delinquency, forbearance, default, not making progress, deferment, and loans discharged, according to the education department.
Later this year, College Scorecard will also show year-over-year change in cost at schools.
The scorecard was rehauled in November 2019.
Education Secretary Betsy DeVos reigned Jan. 7, following President Trump’s role in the Capitol riot.