In a study from Pew Research Center that highlights the negative impact that rising tuition has had on attitudes toward higher education in recent years, close to 30 % of Americans said a college education was n’t worthwhile.
According to the report, almost half of US adults believe that paying for college is worthwhile as long as they do n’t need to take out a loan. Even with student debt, only 22 % of respondents thought a college degree was worthwhile.
In contrast to only a quarter of Americans who said it was exceedingly or very important, four in ten said having a four-year education is not too important or not at all essential to getting a job that pays well.
The survey’s findings come as education costs are rising, student loan repayments for millions of Americans are resumed, and some of the relative financial benefits of college are declining. Together, these changes have left parents and students with more difficult choices regarding higher education.
The cost-benefit research has changed for Brad Cohen, a senior loan agent at First Heritage Mortgage and a college student, as prices have increased.
” I think college is one of the biggest waste of money that there is, unless you’re going to get a doctor or unless you’re going to be a lawyer, or specific professional professions”, Cohen, a father of two, said in an interview. ” It’s really ironic how cheap it is”.
After he turned down her from studying interior design, Cohen’s child is scheduled to examine business management and marketing at the University of Arizona this fall. Cohen claimed that he has saved money to help his 14-year-old child pay for college, but that he is also encouraging him to follow a love of cars by enrolling in a trade school.
” Society thinks people should go to college, but more and more people are realizing that, you know what, I do n’t need to go to college. I do n’t need to carry this much money that will literally be a burden on me for the rest of my life,” Cohen said.
A majority of Americans believed the higher education system did n’t offer good value for the money spent even 13 years ago. Additionally, 86 % of the 2011 Pew survey respondents said that higher education had been a wise choice for them individually.
Like Cohen, some families who deem the costs to higher continue to send their children to universities. Even though some workers without levels are making more money, especially since the Covid-19 pandemic, college graduates ‘ profits and overall wealth are still significantly higher than those of those without degrees, especially among those without degrees. Additionally, graduates continuously have lower unemployment rates than the general population.
According to a recent report from the Federal Reserve, most Americans view training as a means of improving their financial well-being, and the majority of those who have earned bachelor’s degrees or higher believe it was worthwhile.
