A recent article in Bloomberg's Business Week highlights the work that Virginia and other states have done to report on the wages of college graduates by degree and major, by individual college, at intervals of 18 months and five years post completion. This kind of information is invaluable for students and families to make informed decisions about college. For example, they highlight just how rewarding a two-year degree from a community college can be, for less than a tenth of what many four-year degrees can cost.
In 2013 Virginia will be adding debt levels to their reports, getting very close to a true a measure of return on investment for very specific college programs.
Senators Wyden and Rubio have proposed a bill to make this possible: The Student Right-to-Know Before Go Act.