Students Question Value of College Education
A new study indicates that only about a third of U.S. college students believe higher education justifies its cost. Interestingly, those majoring in humanities feel the most disenfranchised.
The research, surveying 1,000 undergraduate and graduate students set to commence college in 2024, found that a mere 33% think that the investment in college is worthwhile, while nearly 29% disagree. Furthermore, nearly 38% remain uncertain about the overall value of obtaining a degree.
The financial aspect is striking: the average tuition for an in-state public university is around $11,950 annually, whereas private institutions average about $45,000.
The data reveals a rising doubt about whether college should universally be seen as the go-to path for everyone.
Interestingly, only 34% of students, regardless of their career aspirations, maintain that college is suitable for all. In contrast, nearly half, or 45%, directly oppose this statement, while about 21% are unsure.
Notably, there’s been a significant shift in perspective compared to 2022. Back then, 56% of students believed higher education is for everyone. By 2024, that agreement dropped by 22 percentage points. This sentiment is echoed by a declining belief that college is accessible to individuals of all economic backgrounds; a decrease from 65% in 2022 to 48% in 2024. Meanwhile, 32% disagreed that college should be open to all, and 20% remained neutral.
In terms of specifics, just over a third of students—34%—affirmed the value of college, encapsulating varying aspirations.
Interestingly, Gen Z appears more skeptical than Millennials. For instance, only 45% of Gen Z students think college is a universal opportunity, compared to 61% of their Millennial counterparts. The numbers keep diverging: about 31% of Gen Z believes college is appropriate for everyone, while half of Millennials held the same view.
The survey also showcased that humanities majors hold particularly grim views on college value. Just 30% consider it worth the investment, in contrast to 34% of STEM students and 39% of those majoring in business. However, humanities students are more inclined to believe that higher education should be accessible to all backgrounds—53% compared to 46% for STEM and 48% for business majors.
Looking ahead, by 2026, projected tuition costs suggest students will pay approximately $20,800 yearly for a public four-year institution and around $36,200 for a private college.
