Is the degree worth the debt? Over 40% of US college grads said their degree wasn't worth it in the end — here are 3 simple ways to give yourself an edge in the job market without one
Burdened with a staggering amount of student debt and limited job skills, more people in the U.S. believe getting a college degree may no longer be the hallowed cornerstone of the American dream that it once was.
In fact, 42% of Americans with a four-year degree said it wasn’t worth it, according to a recent Wall Street Journal poll. This is 10 percentage points higher than previous years
So, with more Americans feeling more skeptical over the benefits of higher education, their next might be diving straight into the job market.
But how do you compete with other prospective employees who do have those academic credentials?
Americans are skeptical about the importance of higher education
The survey also revealed that 56% of Americans think earning a college degree is a bad bet, since graduates often find themselves floundering in the aftermath without specific job skills and a large amount of debt to pay off.
This skepticism seems to be strongest among those aged 18 to 34, which could signal an important turning point in the sustainability of higher education for future generations.
Undergraduate college enrollment dropped 5.7% from fall 2019 to fall 2022, according to a 2023 report from the National Student Clearinghouse.
Ted Mitchell, the president of the American Council on Education, told the Wall Street Journal the survey’s findings indicate higher education institutions need to adapt to the changing labor landscape.
“These findings are indeed sobering for all of us in higher education, and in some ways, a wake-up call.”
He points to the $1.7 trillion owed in student debt for causing this general shift in attitude. Borrowers also typically take 20 years on average to pay off their student loans, according to research group Education Data Initiative.
