Colleges and universities around the country are concerned about the changing demographics of students, the cost and financing of school, and the disruption of technology, especially online education. But the most serious challenge may be the declining value students put on college education.
A new Gallup poll conducted with Purdue University surveyed 30,000 college graduates and found that barely half (50%) “strongly agree” their higher education was worth the cost. Among recent graduates (alums from 2015 to 2006), only 38 percent “strongly agree” their education was worth it.
Fifty-two percent of all graduates in public schools “strongly agreed” the education was worth the expense, 47 percent of private school graduates and just 26 percent of for-profit college graduates.
Nearly 10 percent of recent graduates were unemployed and nearly half were underemployed. About two-thirds of student graduates with an average of $30,000 worth of debt and only 33 percent of alumni with that level of student debt thought their education was worth it. Delaying buying a house, getting married, having children or starting a business are related to high student debt.
The Washington Post: Is college worth the cost? Many recent graduates don’t think so.
Fortune: Is college worth it? This is what recent grads are saying.