The Education Department added long called-for information to its College Scorecard that shows how well students at institutions, including for-profits, are able to repay student loans.
“Today, we continue to build on the updates we’ve made to College Scorecard over the last several years by delivering even more transparency around student loan repayment,” Acting Education Secretary Mitchell Zais said in a press release Tuesday. “Prospective students can now see a comprehensive picture of how borrowers from each institution are meeting their federal student loan obligations. This is the kind of real, unfiltered information students need to make informed, personalized decisions about their education.”
The added information shows the percentages of borrowers who fall into eight loan repayment statuses two years after entering repayment: paid in full, making progress, delinquency, forbearance, default, not making progress, deferment and loans discharged.
Robert Kelchen, associate professor of higher education at Seton Hall University, praised the addition. “This is a big step forward in understanding student outcomes,” he said.