President Barack Obama promised his administration would be releasing a new tool to help parents and students compare colleges in the form of a scorecard.
The scorecard helps break down some of the important information parents and students might need in deciding which college to attend.
President Obama said the purpose of the scorecard website is to hold colleges accountable for cost, value and quality.
The website is interactive, allowing users to insert the name of the college in which they're interested.
The scorecard returns information on the institution, including cost per year, graduation rate, if students are able to repay their loans after graduation, and the typical loan amount for a student.
The website also provides other options to narrow the search, including location, type of institution, campus size, and campus setting.
Users can also search for colleges based on interests.
To view the scorecard website, click here.