Washington, D.C. - The White House is releasing a website designed to help college-bound students have a better sense of how much their education will cost and how much they can expect to pay in student loans.
President Obama promised the tool during Tuesday’s State of the Union speech, and Education Department officials published the data early Wednesday. On the website, potential students and their parents can see a typical student’s out-of-pocket costs, as well as what percentage of students graduate.
WOKV compared the University of Florida and Jacksonville University. We found the average UF student paid about $11,500 a year after grants and scholarships. At JU, students pay just over $19,000. The website also shows the percentage of students that earn their Bachelor's Degree within six years. For UF, it's 83% and at JU, it's just 40%.
"I didn't know where to look for those kinds of things when I was applying to my undergraduate education, and I absolutely wish that I had," said Georgetown Law School Graduate Student Josh Christian
The searchable database also lets students compare the rates at which graduates default on their student loans against the national average of 13 percent, and how much the typical student pays each month in student loans.
In coming years, the site promises data on how much graduates earn.