A Degree Drawn in Red Ink

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New York's Manhattan School of Music had the second-highest median debt load, at $47,000. Graduates with up to five years' experience earn an average of $42,700, accordi Louis Vuitton Outlet   ng to PayScale."Manhattan School of Music offers world-class musical education at a reasonable price," said interim President Marjorie M longchamp le pliage   erryman. She called the government figures "misleading," noting that typically 30% to 50% of the class borrows and class size is small, typically 65 to 90 students, meaning year-to-year figures can turn on the actions of a handful of students. Many students work abroad and take years to realize their full earnings potential, she added.The federal data aren't complete. Families can't compare schools side by side or use the tool to see what kind of money people can expect to earn after graduation. Graduation rates include only first-time, full-time students. And loan figures also measure debt at the time students longchamp outlet    enter loan repayment, meaning they don't take into account whether or not students complete college. That could understate debt loads for graduates of schools with high dropout rates.Department of Education officials said they plan to add a comparison tool and make other revisions. The governmen Louboutin Pas Cher   t expects to make salary information available later this year and is looking at ways to use Social Security data, Labor Department records or other information.New York University, with a median debt of $29,260, had the highest borrowing among schools with more than 10,000 students. "Excellence in higher education is costly," particularly in a big city like New York, an NYU spokesman said in a statement, adding that NYU doesn't benefit from a large per student endowment or state funding and is "upfront" about costs. The federal data "seems to be dated" and doesn't take into account a recen sac pliage longchamp   t decline in median borrowing, he added.Sara Moe, a junior majoring in political science and public policy, figured she would have to take on substantial debt at NYU. "But I was hoping for five digits, not six," said Ms. Moe, who expects to rack up more than $100,000 in loans by the time she graduates. Said Ms. Moe: "It's important to know what you are getting yourself into." Write to Ruth Simon at ruth.simon@wsj.com and Rob Barry at rob.barry@wsj.com A version of this article appeared February 19, 2013, on page A3 in the U.S. edition of The Wall Street Journal, with the headline: A Degree Drawn in Red Ink.