Survey: Americans now question the value of four-year college degrees in relation to cost

A growing number of Americans are rethinking one of the traditional pillars of the American dream. According to a recent NBC News poll, nearly two-thirds of registered voters now believe that a four-year college degree is not worth its cost, marking a sharp decline over the past decade.

Only 33% of respondents said a four-year degree is worth it because it increases the chance of securing a good job and earning more over a lifetime, while 63% agreed that it is not worth it due to graduating with debt and lacking specific job skills. In contrast, surveys from 2013 and 2017 showed a more balanced opinion, with roughly half of adults seeing value in a college degree.

The shift comes amid rising tuition costs and rapid changes in the job market, including the impact of AI and technological transformation. Its remarkable to see attitudes change so dramatically on an issue central to the American dream, said Democratic pollster Jeff Horwitt of Hart Research Associates. A college degree used to symbolize opportunity; now that promise is in doubt.

National statistics indicate that individuals with advanced degrees generally earn more and have lower unemployment rates, yet the rising cost of education has changed the equation. Adjusted for inflation, public college tuition for in-state students has doubled since 1995, while private college costs have increased by 75%. Poll participants cited these costs as a major reason for the declining perception of value.

Jacob Kennedy, a 28-year-old Detroit resident with a two-year degree, explained that while education is crucial for society, heavy student debt diminishes its benefits. The jobs you get out of college often dont cover your debt, forcing people to take other work, he said.

Across demographics, support for the worth of a degree has dropped, with the decline particularly pronounced among Republicans. In 2013, 55% of Republicans considered a degree worthwhile, but now only 22% do. Democrats have also shifted, though less dramatically, from 61% in 2013 to 47% today. Among college graduates, fewer than half now see the degree as worth the cost.

Preston Cooper of the American Enterprise Institute notes that exceptions to the long-held belief that a degree always pays off have fueled skepticism. As a result, interest in vocational, technical, and two-year programs is rising. Students are more cautious about taking on the risk of a four-year degree and are exploring faster pathways into the workforce, he said.

Some individuals still see clear benefits. Josiah Garcia, a 24-year-old Virginian, enrolled in an engineering program after working as an electricians apprentice, believing a degree would directly impact his earning potential. However, he observed that degrees in fields like arts and theater often fail to provide the same return.

Jessica Burns, a 38-year-old Iowa resident, said the value of a four-year degree depends largely on cost. While she attended affordable public institutions, her husbands private college education left the family with long-term debt. She emphasized that degrees remain essential for accessing certain jobs but warned that affordability must be addressed.

Beyond cost concerns, public confidence in higher education has declined over the past decade, though Gallup polling indicates a slight uptick in the last year. Colleges have lost touch with many Americans due to affordability issues, Horwitt said. They are increasingly seen as inaccessible.

The NBC News survey included 1,000 registered voters between October 24-28 through telephone and online methods, with a margin of error of 3.1 percentage points.

Author: Sophia Brooks