White House Unveils College Cost Website

WASHINGTON (February 13, 2013)--The White House unveiled a website Wednesday designed to help college-bound students get a better idea of how much their educations will cost and how much they can expect to pay in student loans.

President Barack Obama promised the tool during Tuesday's State of the Union speech and Education Department officials published the data early Wednesday.

On the website, potential students and their parents can see a typical student's out-of-pocket costs, as well as what percentage of students graduate.

The searchable database also lets students compare the rates at which graduates default on their student loans against the national average of 13 percent, and how much the typical student pays each month in student loans.

In coming years, the site promises to include data on how much graduates earn.

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