The federal government collects data on every college that receives financial aid. That data lives on the College Scorecard, a free tool anyone can use. It shows graduation rates, average earnings after graduation, student debt levels, and more. But like any tool, it works best when you understand what it can and cannot do.
Families who learn to read Scorecard data alongside other sources make sharper college comparisons. Here is how to use it — and where to look for answers the Scorecard does not provide.
What the College Scorecard Actually Shows
The Scorecard pulls data from federal databases, including NCES IPEDS and the Department of Education’s Federal Student Aid records. The most useful data points include:
- Average annual cost after aid. This is the net price for students who received federal financial aid. For the 2022-23 year, the average net price at four-year public schools was about $15,500, compared to roughly $19,500 at private nonprofits, according to College Board data.
- Graduation rate. The Scorecard shows what percentage of first-time, full-time students complete their degree within 150 percent of normal time (six years for a four-year degree). The national average hovers around 64 percent at four-year institutions, per NCES.
- Median earnings after graduation. This figure shows what graduates earn 10 years after entering the school. It includes all graduates, regardless of major.
- Median federal loan debt. The amount of federal student loan debt the typical graduate carries at completion.
- Loan default rate. The percentage of borrowers who default on federal student loans within three years of entering repayment.
- Retention rate. The share of first-year students who return for a second year.
How to Access the Data
Visit collegescorecard.ed.gov and type in the name of any school. You will see a snapshot of cost, graduation rate, earnings, and debt. You can also compare schools side by side. The data is free, requires no account, and is updated annually.
What the Scorecard Gets Right
It Uses Real Federal Data
Unlike rankings from magazines and websites, the Scorecard does not rely on surveys or self-reported information from colleges. The earnings data comes from IRS tax records matched to federal student aid records. The cost data comes from what schools actually charge after aid. This makes it harder for schools to game the numbers.
It Shows Outcomes, Not Just Reputation
Many families focus on brand names when picking a college. The Scorecard shifts the conversation to results. A well-known school with a 50 percent graduation rate might look less appealing next to a lesser-known school that graduates 80 percent of its students in four years.
It Highlights Debt and Earnings Together
Seeing median debt alongside median earnings gives you a quick sense of whether graduates are borrowing a manageable amount. According to Sallie Mae, the average family borrows about $32,000 total for a bachelor’s degree. If a school’s graduates earn $45,000 at the 10-year mark and carry $30,000 in federal debt, that ratio is workable. If they earn $30,000 and carry $35,000, that is tighter.
What the Scorecard Misses
Earnings Data Does Not Break Down by Major
The Scorecard shows median earnings for all graduates combined. A school where 70 percent of students major in engineering will show higher median earnings than one where 70 percent major in education — even if both schools do an excellent job preparing their students. Starting in recent years, the Department of Education began publishing program-level data for some fields, but coverage is incomplete.
It Only Tracks Federal Aid Recipients
The cost and debt figures on the Scorecard come from students who received federal financial aid. Students who paid without federal loans or grants are not included. At wealthy private schools where many families pay full price, this can skew the numbers. The net price shown might not reflect what your family would actually pay.
It Does Not Show Private Loan Debt
The median debt figure only counts federal student loans. According to Education Data Initiative, about 14 percent of student loan borrowers hold private loans. If a school’s students rely heavily on private borrowing to fill gaps, the Scorecard debt number will look artificially low.
Graduation Rates Can Be Misleading
The Scorecard tracks first-time, full-time students. Transfer students, part-time students, and returning adults are not counted in the main graduation rate. Community colleges look especially poor on this metric because many of their students transfer to four-year schools — which counts as not completing. Schools with large adult or part-time populations face the same problem.
Earnings Data Has a Time Lag
The 10-year earnings figure uses data from students who entered school a decade ago. The job market, the school’s programs, and the regional economy may have changed significantly since then. A school that launched a strong nursing program five years ago will not show those improved outcomes yet.
How to Use the Scorecard Alongside Other Tools
The Scorecard works best as one piece of your research, not the only piece. Here is how to fill the gaps.
Net Price Calculators
Every school is required to have a net price calculator on its website. These tools give you a personalized estimate based on your family’s income, assets, and academic profile. The Scorecard shows an average; the calculator shows your estimated cost.
College Navigator
The NCES College Navigator offers detailed breakdowns of enrollment demographics, financial aid distribution, campus safety data, and program offerings that the Scorecard does not cover.
School-Level Program Data
For earnings by major, check the Scorecard’s "Field of Study" tab when available. You can also look at professional licensing pass rates for nursing, teaching, or accounting programs. State higher education boards often publish these.
Alumni Outcomes
LinkedIn, alumni association reports, and employer recruiting data can give you a sense of where graduates actually work. This is especially useful for schools that place well regionally but do not show up in national rankings.
Roadblocks to Watch
Taking any single number at face value. A high graduation rate means less if the school also has a high loan default rate. Always look at multiple metrics together.
Comparing schools of different types. A community college and a research university serve different student populations. Comparing their graduation rates directly is like comparing a sprint to a marathon. Filter your comparisons by school type when possible.
Ignoring net price in favor of sticker price. The Scorecard shows average net price after aid, which is much more useful than published tuition. A school with a $60,000 sticker price and a $22,000 average net price may actually cost less than a public school charging $25,000 with limited institutional aid.
Assuming higher earnings mean a better school. Geographic location, local cost of living, and the mix of programs offered all affect earnings data. A school in New York City will show higher median earnings than one in rural Kentucky partly because wages are higher in that area.
Skipping the Scorecard entirely. According to NASFAA, many families still choose colleges based on name recognition and campus feel alone. Adding even 15 minutes of Scorecard research per school can surface important differences.
A Step-by-Step Approach
- Start with the Scorecard. Look up every school on your list. Note net price, graduation rate, earnings, and debt for each.
- Run each school’s net price calculator. Enter your family’s financial details to get a personalized estimate.
- Check program-level data. If your student has a likely major, look for field-of-study earnings on the Scorecard or through the school’s own outcome reports.
- Compare debt-to-earnings ratios. Divide median debt by median annual earnings. A ratio under 1.0 means graduates typically earn more in one year than they owe. Under 0.5 is even better.
- Look at retention and graduation rates together. High retention plus high graduation signals that students are satisfied and supported. High retention but low graduation might mean students stay but struggle to finish.
- Read the fine print. Note whether the school has a high percentage of part-time or transfer students, which affects how the Scorecard reports outcomes.
When the Scorecard Matters Most
The Scorecard is especially valuable when you are comparing schools that seem similar on the surface. Two mid-sized state universities in the same region might have very different graduation rates, debt levels, and post-graduation earnings. Without checking the data, you might assume they are interchangeable.
It is also useful for reality-checking expensive schools. A private university charging $55,000 in sticker price might show a net price of $18,000 for families earning under $75,000 — making it competitive with or cheaper than the local state school. The Scorecard helps you see past the sticker shock.
The Bottom Line
The College Scorecard is the best free starting point for comparing what colleges actually deliver. It uses real federal data on costs, graduation rates, earnings, and debt. But it has blind spots — it misses private loans, lumps all majors together, and does not count transfer students in graduation rates.
Use it as one tool among several. Pair it with net price calculators, program-level outcome data, and your own financial analysis. The families who make the strongest college decisions are the ones who check the numbers before committing.
Build your personalized comparison at CollegeLens to see how your top schools stack up on net price, aid, and outcomes — all in one place.
— Sravani at CollegeLens