NPR reports that “Americans who believe colleges and universities have a positive impact on the country,” fell 14% since 2020. Furthermore, as graduates owe $1.75 trillion in student loan debt, why are more Americans questioning the value of going to college?
Lowest college enrollment in a decade: what’s going on?
Americans are turning away from college in droves. “2020 marked the lowest percentage in [college] enrollment [in] over ten years,” The Hill reports. “[…] spring 2022 college enrollment had more than 1 million fewer students enrolled compared to spring 2020.” With the declining college enrollment numbers showing no signs of slowing down, is college really for everyone?
The spiraling cost of college: is it worth it?
According to the Education Data Initiative, the cost of college doubled in the past 20 years. College costs had an annual growth rate of 6.8% in the last two decades. The National Student Clearinghouse reports that “cost was the number one perceived challenge to getting more education for 57% of respondents […].” More shockingly, only “32% of respondents felt additional education would be worth the cost.” With exorbitant tuition increases and high inflation, many Americans are asking if they can afford college anymore.
Republicans and Democrats differ on the value of a college education
There is a partisan divide in the value of a college education. “While 73% of Democrats believe colleges and universities have a positive impact on the country, only 37% of Republicans feel that way,” NPR reports. “Most Democrats (77%) say the government should fund higher education because it’s good for society, while the majority of Republicans (63%) say students should pay for post-high school education because they benefit from it.” Why is there a 36-point divide in the value of college education among these political groups?
Americans believe good jobs can be found without a college degree
After the pandemic, most Americans believe good jobs are attainable without a college degree. A New America survey found that 64% surveyed agree that they only need a high school diploma or GED to find a well-paying job. Will the new American dream be good jobs without a college degree?
How much education will your child or family member need to succeed?
Yet, most parents believe college is necessary for their child’s future. Additionally, the New America survey found that 73% of respondents believe a degree is necessary for “economic security” for their families. Furthermore, 39% believe a bachelor’s degree is sufficient, while 10% believe a master’s, doctoral, or professional degree is necessary.
Is higher education worth the investment?
Many Americans believe higher education remains unaffordable and inaccessible. As a result, colleges are facing decreasing enrollments. Despite these economic challenges, most American families still believe in its value. That is the price of higher education and why some Americans are paying more than ever to access college.
