To help you do your homework we’re assembled the following resources. These sites allow you to search by college, so you can compare basic consumer information. Although this is not a perfect substitute for the information that was previously required to be provided, this information can still be used as a guide to help you determine which institutions and programs may meet your needs and provide a high likelihood of success. But borrower beware, in many cases, this information applies to the entire institution or campus and may not apply specifically to your program, so it is important to ask for more detailed information.
Resources for Choosing a College or Program
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College Insight: College Insight is a resource offered by The Institute for College Access and Success that allows you to search and compare information by school.
- Information includes cost, average debt, completion rates and loan repayment rates, among other indicators.
- Use the College Spotlight tool to search schools by name or type.
- Example:
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College Results Online: College Results Online is a resource offered by The Education Trust that allows you to search colleges and compare information across institutions.
- Information focuses on retention, completion rates and financial outcomes, and is available broken down by race and income where possible.
- Use College Results Online to search individual schools online
- Example:
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College Scorecard: The College Scorecard is a resource offered by the Department of Education that allows you to comparison shop schools depending on what you are looking for.
- You can search by location and programs offered.
- It’s easy to pull up on your phone.
- Information to look out for includes graduation rates, average debt for students enrolled, the percentage of students paying down their debt, and average earnings after graduation.
- Example:
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College Navigator: College Navigator is a resource offered by the Department of Education that allows you to see consumer information by college.
- You can search by school name, location, program offered and/or institution type.
- Information includes cost, financial aid, enrollment, graduation rates, information on veterans and service members, accreditation information, and student loan default rates.
- Example:
- GI Bill Comparison Tool: Especially for veterans and service members, the GI Bill Comparison Tool is a resource offered by the Department of Veterans Affairs and offers data on programs eligible for the GI Bill.
- Loan Repayment Calculator: Log in to your FSA account or use the estimated cost of your program to explore loan repayment options.
How to Avoid Red Flags
When doing your homework these are some warning signs AFT members should take especially seriously.
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Accreditation: Before students enrolled at a school can receive federal financial aid, that school must first be certified by a federally recognized accrediting agency that it meets certain requirements.
- Accreditation can make a difference in whether employers will accept your degree for employment and whether you can transfer your credits.
- It is important to check educational requirements in your state for the job you want.
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National vs. regional accreditation:
- Regional accreditation may make it more likely that your credits will transfer.
- Check the Education Department’s Database of Accredited Postsecondary Institutions and Programs to find out if your school is accredited and who accredits the school. This database will also tell you if your school is in good standing or is under a sanction such as a warning or probation.
- Check the Council for Higher Education Accreditation to see whether your school is regionally or nationally accredited.
- Search the school on the accrediting agency’s website and check its directory to be sure it is in good standing with the accrediting agency.
- Some employers require specific accreditation in order to enter a field. For example, some require accreditation by a programmatic accrediting agency. Others require regional accreditation before becoming licensed in a state. Be sure to check the requirements in your state and talk to employers if possible to be sure your school or program has the right kind of accreditation.
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Default Rates: A high percentage of students defaulting on their loans at a particular school may be a red flag that its students have too much debt or have a hard time finding employment to repay their loans.
- College Navigator: Search a school to find out its cohort default rate and the percentage and number of students defaulting on their loans over time.
- Department of Education Office of Federal Student Aid: Search the database of cohort default rates by school.
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Financial Stability: Some schools may be financially unstable.
- Department of Education Office of Federal Student Aid: Check the list from the Department of Education of schools having financial issues.
- The list’s “Description of Reasons” tab includes the categories of “Financial Responsibility” and “Program Review – Severe Findings”; be careful of schools listed in these categories. Schools listed under “Audit Late/Missing” or “Payment Method Changed” are less concerning but still may warrant a follow-up question.