New College Scorecard to Have Salary Information for Institutions

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According to Libby Nelson at Politico, on Tuesday September 17,  deputy director of the White House Domestic Policy Council James Kvaal announced at a National Press Club that the administration is revising the College Scorecard to include median incomes of graduates.   In Ms. Nelson’s wonderful morning education email (which is sadly not available online), she reports ”[t]he methodology will likely be similar to that used for determining debt-to-earnings ratios in the ‘gainful employment’ rule for for-profit colleges, Kvaal told POLITICO – meaning the Education Department will get median income for groups of borrowers without sharing personally identifiable information.”

As I understand it – and there’s lots more to learn about this move – the salary data will come from students in the cohort for a school’s cohort default rate.  It is also our understanding (at this time) that the Department of Education will link this data to programs.  It’s not entirely clear, among other issues, which year’s salary data will be used (i.e., the third and fourth after leaving the institution, as proposed in the gainful employment rule) or how the data will present students that attended multiple institutions.

More to come  . . .

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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