Over the years, the cost of higher education keeps increasing. Because of this it is causing people to not pursue a college degree. Understanding where and how colleges are spending their money can be the first step to lowering the cost.
The American Council of Trustees and Alumni launched HowCollegesSpendMoney.com on January 30th. The website is an online tool where you can view different financial information about 1,500 different colleges. The website also offers tools that can show you four-year graduation rates, retention rates, and percentages of students receiving scholarship aids.
Michael Poliakoff, ACTA’s president discusses that, “…student load debt burgeoning past $1.5 trillion…” and that now there is a resource to be more informed about where your money is going when investing it in higher education. College trustees are able to be more effective with how they spend their money to benefit the students.
Heidi Ganahl from the University of Colorado and U.S. Congressman Tom McMillen praise the website saying that boards now have access to better data, analytics and it’s a benefit way to tackle expenses. Another word they used to describe HowCollegesSpendMoney.com is “transparent,” with the website you can see exactly how tuition money is being spent.
ACTA has found an innovative way to help colleges across the country, with a tool like this we will hopefully be able to better fund our colleges and lower the cost of higher education.
To explore the site: https://www.howcollegesspendmoney.com/
For more info and FAQ: https://www.goacta.org/initiatives/actas_how_colleges_spend_money_website
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