Which colleges give you more bang for the buck?
That’s what the White House’s College Scorecard attempts to do. It was released Saturday. You can find out how information such as how much money students are earning, on average, 10 years after graduates. Vox has a great breakdown of what this scorecard means and its limitations.
Graduates of our local four-year colleges have earnings above the national average, with Rochester Institute of Technology leading the pack at more than $56,000. More than three-quarters of RIT grads earn more than those with only a high school diploma. Of course, earnings are not the only factor when choosing a college. Tuition, graduation rates, academic programs and location are all important.
The tool also tells us how much debt each graduate accumulates. RIT students typically graduate with $27,000 in debt. Ninety percent of students are paying down that debt, well above the national average of 67 percent. Meanwhile, at Monroe Community College, students graduate with $12,000 in debt, and only 55 percent are paying it down. That jibes with studies showing borrowers with the smaller loans struggle the most, because they’re not earning as much money. Only about half of MCC graduates earn more than high school graduates.