By: Yuri Smishkewych | Posted September 29th, 2015
Students often ask themselves if college is worth the investment. Well, a new federal database can help you answer just that.
Collegescorecard.gov, an online database from the United States Department of Education, now has nearly two decades worth of statistics on every higher education institution in the U.S.
“Americans will now have access to reliable data,” President Barack Obama announced in his Sept. 12 weekly address. “You’ll be able to see how much each school’s graduates earn, how much debt they graduate with, and what percentage of a school’s students can pay their loans.”
The database allows students to see how their college credentials stand up to other schools that fall within different categories, including cost and how much money graduates at each school make after entering.
The the median earnings of former students who received federal financial aid at 10 years after entering Kean was $46,800. That’s $4,900 more than New Jersey City University
(NJCU) graduates, but $1,900 less than Montclair students.
But not to worry!
The database reveals that no matter what college you choose, you’ll make more money than if you’d never attended. On average, college graduates earn $1 million more over their
lifetimes than high school graduates, according to data on the
Fourty-one percent of students who attend Kean have a family income less than $40,000 and receive an income-based federal Pell Grant to help pay for college.
Thirty-one percent of Montclair’s students come from the same background, and NJCU’s student body encompasses 56 percent in the same category.
In the President’s words, “There are colleges dedicated to helping students of all backgrounds learn without saddling them in debt. We should hold everyone to the standard. Our economic future depends on it.”