The online scorecard allows students to choose from certain criteria, such as whether they want to attend a small or large university, what type of degree they are looking for and how far away from home they’re willing to live. The scorecard narrows down the college and university options based on the student’s preferences.

Students can see the average net price for an undergraduate degree, graduate rates, loan default rates, what type of jobs students get after graduating from the college and the median amount students borrow in student loans to pay for an education at the
university.

The website also shows a tuition calculator and a chart to see how the college’s tuition has risen or fallen in the past few years.

“Parents and students can use (this) to compare schools based on a simple criteria: where you can get the most bang for your educational buck,” Obama said during his speech.

Director of the Office of Admissions Jim Cotter said the information on the scorecard seems accurate, consistent ­and targeted enough to allow students to make equal comparison between colleges.

“I believe what President Obama is trying to do here is giving students an opportunity to compare apples to apples as opposed to comparing apples to oranges,” he said.

But Cotter said to truly understand the college’s environment, students will have to experience it in person for themselves.

Director of the Office of Financial Aid Rick Shipman said one of the downsides of using the scorecard is it only provides average costs or rates.

“While averages make the information mathematically accurate, they don’t necessarily make it personally relevant,” he said. “So students need to approach the scorecard with the knowledge that it is just providing a general sense of information.”

U.S. Secretary of Education Arne Duncan said the College Scorecard can help alleviate the stress of sorting through college websites and documents to find answers to affordability questions.

Obama’s College Scorecard announcement was accompanied by other propositions to help higher education.

The president also suggested Congress amend the Higher Education Act to include affordability and value for students’ money as factors in determining how much federal funding universities receive.

Music education senior Judy Pagryzinski said when it came to choosing a college, she researched universities heavily, visited campuses and spoke with MSU students before she made her final decision. She said a College Scorecard would have helped her search for costs and rates.

“In terms of planning that financially, if there was a way to make that better, I think that would be great,” she said.