Centenary College’s annual price tag sits on the fence between medium and high when compared to the rest of the nation’s higher education institutions, according to a new, interactive website created by the United States Department of Education.
The website, created after President Barack Obama called for colleges to be held accountable for “cost, value and quality,” gives families and prospective students critical information to make decisions on college choices, according to the Department of Education.
According to the “College Scorecard,” the Hackettstown-based school with a campus in Parsippany has an average net price for undergraduates of $21,020 year. Net price, according to the Scorecard, is what undergraduate students pay after grants and scholarships are subtracted from the institution’s cost of attendance.
The Scorecard also notes the average net price has decreased 34.8-percent from 2007 to 2009.
Centenary’s graduation rate was “medium” when compared nationally, with 49.2-percent of full-time students receiving a bachelor’s degree within six years.
“We know students and families are often overwhelmed in the college search process–but feel they lack the tools to sort through the information and decide which school is right for them,” said U.S. Secretary of Education Arne Duncan in a statement. “The College Scorecard provides a snapshot about an institution’s cost and value to help families make smart decisions about where to enroll.”
One category in which Centenary students ranked ahead of the national average was loan default rate. Just 7.2-percent of Centenary students defaulted on their federal student loans within three years of entering repayment, while the national average as nearly double at 13.4-percent.
Do you think this tool will be helpful for prospective college students and their families? Will you use it to help make college decisions?