With a still-recovering economy and rising higher education costs, many families worry if they can afford to send their children to a certain university or college.

In response to these concerns, President Barack Obama and his administration created the College Scorecard, a website that compares financing options and education statistics of various colleges and universities to help the user find their best college, according to its website.

Students who graduated in 2011 racked up an average of $26,600 in student loan debt — a statistic that has increased by 5 percent from 2010, according to the Institute for College Access and Success.

In an attempt to avoid massive debt in the future, College Scorecard works to provide accurate numbers of what a student would be paying during and after attending a particular school, according to its website.

Although College Scorecard provides adequate information for prospective students, it’s not enough to inform students what to expect when attending a university, said Kaye Devesty, director of financial aid at Syracuse University.

“Prospective parents and students need to do a fair amount of research and ask a lot of questions,” Devesty said. “But it is a great place to start to get questions answered.”

While the site offers information on some financial aid options, it doesn’t include information on options such as scholarships or grants offered by schools that don’t have to be repaid, Devesty said.

The College Scorecard website gives users several options when searching for a particular university. These options provide an overview of a specific school in regard to degrees and majors offered, as well as future occupations. It also provides schools that are close to the student’s local address, along with details such as the size of the student body, campus culture and the school’s setting.

Colleges and universities report the data on the College Scorecard website to the U.S. Department of Education, but Devesty said families should still continue to do extensive research on schools on their own to be fully equipped with substantial information.

In Obama’s State of the Union address, he said the College Scorecard is the first step toward lowering the cost of college in the United States.

Briana Calafiore, a junior accounting and finance major, said she thinks the College Scoreboard is a good first step, but hopes to see additional initiatives.

“I think it’s good to see effort made by the nation to ensure our students are continuing their education, but I don’t necessarily think it’s the onlystep we need to take in progressing,” he said.

Megan Clark, a junior marketing and public relations major, said she had not heard about the website, but would consider using it when she applies to graduate school in a few years.

“There’s a lot less financial aid offered at that level, therefore using College Scorecard would be beneficial to weigh out my options,” she said.

While the College Scorecard can be a good way to compare schools, for Clark, there was no comparison.

“I mean if you’re extremely undecided on what you want do and where you want go, then I definitely think College Scorecard is a useful tool,” she said. “Yet, as a prospective student, I didn’t have many choices to compare. I always knew I wanted to go to Syracuse University.”

Published on February 19, 2013 at 10:18 pm

Contact: Taylor: tlbaker@syr.edu