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Biden proposes grading colleges on their financial value to students

Biden proposes grading colleges on their financial value to students

Colleges and universities across the country may soon be getting their own grades.

The Biden administration wants institutions to be graded on their financial value to students.

โ€œThe administration is basically planning on making a shame list, a list of programs that they say endow students with unaffordable debt that are not worth the cost of those programs. So, they are basically the worst offenders. going on the list,” said Inside Higher Ed reporter Katherine Knott.

The list is still in the planning stages, but Knott believes the amount of potential student loan debt will be used to measure the school’s value.

โ€œI think some of the metrics they would use or suggest using โ€” would someone in a college program earn more than if they had a high school diploma? How much debt do they have compared to the total cost? Program? Graduation rate. Students Loan default rates. Are students paying off their loans? So, metrics like that.”

Unlike past efforts, this list is expected to include a wide variety of institutions, and not just focus on for-profit schools.

“The administration is currently planning to send an improvement plan to the institutions and programs on their list. How are you going to make your program financially valuable?” Nott said.

People can take stock of the administration’s plan till February 10 Regulations.gov.

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