Students, parents and educators increasingly obsessed with college rankings have a new tool: the Obama administration’s College Scorecard. The new database focuses on a college’s graduation rate, graduates’ median earnings 10 years after graduation and the percentage of students paying back their college loans.

While Scorecard adds potentially valuable information to the dizzying array that is already available, it suffers from many of the same flaws that afflict nearly every other college ranking system: There is no way to know what, if any, impact a particular college has on its graduates’ earnings, or life for that matter.

Read the article “How Much Do Colleges Boost Graduate Earnings?” on realclearmarkets.com.