February 15, 2013
President Barack Obama has launched a web site that helps students and parents to find an affordable college. The President first mentioned the site during his State of the Union Address on Tuesday.
"My administration will release a new 'College Scorecard,'" Obama said, "that parents and students can use to compare schools based on a simple criteria -- where you can get the most bang for your educational buck."
The site became available on Friday. It does not rank schools from top to bottom. Instead, it weighs each of them against the national averages.
The University of Virginia, for example, has one of the highest graduation rates in the nation, at 93.9 percent. It also has relatively-low costs. The site estimates that the average student pays $11,590 per year.
At Piedmont Virginia Community College, the costs are lower, at $5,777 per year. But the graduation rate is much lower, at 18.2 percent. That does not account for the 12.5 percent of students who transfer to a four-year school.
Eventually the site will also have information about what type of employment opportunities students get after graduation.