New College Scorecard Ranks Montclair State University

The rankings are in for Montclair State University.

A new interactive College Scorecard was released Wednesday by the Obama administration which offers students and parents basic information about a college.

The website quickly offers information regarding a school’s graduation rates, tuition costs, average borrowing rates and employment history of former graduates.

So what does the new scorecard say about Montclair State? Here’s a quick rundown: 

• The median cost to attend MSU is $12,007 a year for in-state students
• The average price has increased 34.5 percent from 2007 to 2009, which is the highest among similar institutions
• There is a 62.3 graduation rate among full-time students who receive a bachelor’s degree within 6 years
• 23.7 percent of students transfer to another institution
• 6.2 percent of borrowers defaulted on their federal student loans within three years of beginning repayment
• Families borrow on average $19,500 in federal loans for a student's undergraduate studies 
• Average loan repayment over 10 years is about $224 a month

The new College Scorecard was announced by President Barack Obama during his State of the Union address to the joint session of Congress on Tuesday. 

“... Parents and students can use [the new scorecard],” said Obama, “to compare schools based on a simple criteria: Where you can get the most bang for your educational buck.”