The Department of Education (ED) announced a number of new features to the College Scorecard Tuesday, aiming to provide prospective students with additional details on federal loan repayment statuses of borrowers, broken down by institution.
Building off of previous updates, ED will now include the percentage of student loans paid down by entire cohorts of students one, four, five, 10, and 20 years after entering repayment, which for the first time includes the Parent PLUS repayment outcomes.
The College Scorecard now also shows the percentages of borrowers who fall into eight loan repayment statuses two years after entering repayment. Those statuses include paid in full, making progress, delinquency, forbearance, default, not making progress, deferment, and loans discharged.
“Prospective students can now see a comprehensive picture of how borrowers from each institution are meeting their federal student loan obligations,” said Acting Secretary of Education Mitchell Zais.
Additional updates are expected by next week, with ED planning to release Scorecard data on repayment status based on borrowers’ fields of study.
Publication Date: 1/13/2021