U-M fares well in two new college scorecards
U-M has a medium net cost, a high graduation rate and a lower-than-average per-student state appropriation, according to data made available Wednesday on two new college scorecards.
The College Scorecard that President Obama cited during his State of the Union address Tuesday night indicates that U-M has a medium net cost ($14,074) for state resident students, a high (89.5 percent) six-year graduation rate and a low (1.6 percent) student loan default rate.
The interactive scorecard is based on U.S. Department of Education data. Individual college scorecards include five key pieces of data: costs, graduation rate, loan default rate, average amount borrowed, and employment. Earnings data will be added to the employment segment in the coming year.
The Performance Tracker that was unveiled Wednesday by the Business Leaders for Michigan organization offers a more detailed look at the state's 15 public universities. It tracks more than 30 pieces of data in four broad categories and compares it to the peer public universities nationwide.
According to BLM, the Performance Tracker data show that most Michigan universities receive less state appropriations than their peer institutions nationally, excel at producing talent, and that Michigan's tuition levels are higher than most peers.
The BLM website indicates U-M gets less than the average amount of state funding per student ($8,357), yet is above that public peer average in the retention of students after their freshman year (96 percent) and the number of degrees awarded in critical skills areas (5,153).
One area where U-M does not compare favorably is in a calculation labeled administrative spending per full-time student. The data seem to indicate that U-M is significantly higher at $3,935 per student than the average, which is $2,486 per students.
However, a footnote indicates the reason for the overstatement of that expense is because Ann Arbor campus personnel handle a number of centralized administrative functions for the U-M Health System and the regional campuses in Flint and Dearborn. The Ann Arbor campus is compensated for this support, but that compensation is reported separately as revenue.