WASHINGTON (AP) -- President Barack Obama has sharply scaled back plans for a government-run college rating system. Instead, he's trumpeting a redesigned online tool that will give students and their parents information about costs, student loans and other data to help them choose among the nation's colleges and universities.
The revamped College Scorecard will offer consumers a way to see what each school's graduates earn, how much debt they graduate with, and what percentage of a school's students can pay back their loans.
The updated scorecard falls well short of Obama's original plans for the government to design a college ratings system that would judge schools on their affordability and return on investment. Many in higher education criticized that idea, worried that the rankings would be arbitrary and unfair.