“There is widespread interest in having accurate data about the earnings of college graduates, and the revised College Scorecard being unveiled by the Department of Education is an attempt to respond to that demand. However, developing a system of this size and scope is a complicated and nuanced endeavor and the department has done so without any external review.
Given what we believe are significant data limitations, this revamped Scorecard may or may not provide meaningful information to the students and families it was designed to help. For example, it appears the system only provides a single number for an entire institution regardless of whether a student studied chemical engineering or philosophy, and only includes the earnings of federal financial aid recipients.
This is a first step. The department has indicated that it is aware of the system’s data limitations and wants to work with colleges and universities to address them. We welcome that opportunity.”