Surprising new data shows Americans may be losing faith in the real value of college degree
Having a college degree is considered essential for a secure financial future because that's one of the most important steps towards a career. However, most Americans today do not believe that spending time and money on it is worth it anymore. In a stunning poll, more than half of the country believes that a four-year college degree is useless, as one often graduates without any real-world job skills and is left with a massive debt to pay off. As tuition costs have gone up, people have grown averse.
The poll was conducted by NBC News, and it showed that only 33% agree that a four-year college course is “worth the cost because people have a better chance to get a good job and earn more money over their lifetime.” However, 63% believe that it is simply not worth it given the rising cost of getting a degree. In 2017, 49% of Americans said that a degree was important, and in 2013, it was 53%.
The change in mentality over these 12 years can be attributed to the changing economic landscape, with income not being enough to sustain oneself with an ever-rising student debt. College tuition prices have gone up dramatically in the last decade, and with the current inflation, there are no signs of slowing down. The job market will also be affected by the advancement of AI, which could, in turn, affect how people view college degrees.
The poll was conducted by Democratic pollster Jeff Horwitt of Hart Research Associates and Republican pollster Bill McInturff of Public Opinion Strategies. “It’s just remarkable to see attitudes on any issue shift this dramatically, and particularly on a central tenet of the American dream, which is a college degree. Americans used to view a college degree as aspirational — it provided an opportunity for a better life. And now that promise is really in doubt,” Horwitt said.
“What is really surprising about it is that everybody has moved. It’s not just people who don’t have a college degree,” he added. If one cuts across party lines, this poll becomes all the more interesting. Only 22% of Republicans believe that a college degree is worth it, while 74% say that it is not. As far as Democrats are concerned, 47% believe a degree is worth it, while 51% do not.
“Some people drop out, or sometimes people end up with a degree that is not worth a whole lot in the labour market, and sometimes people pay way too much for a degree relative to the value of what that credential is,” said Preston Cooper, a senior fellow at the American Enterprise Institute. “These cases have created enough exceptions to the rule that a bachelor’s degree always pays off, so that people are now more sceptical,” he added.
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