A new poll reveals a dramatic shift in Americans' attitudes toward the value of a four-year college degree, with nearly two-thirds of registered voters now saying it's not worth the cost. The NBC News survey found that just 33% believe a college degree is worth the investment because it leads to better jobs and higher lifetime earnings, while 63% feel that it is "not worth the cost because people often graduate without specific job skills and with a large amount of debt to pay off." This marks a sharp reversal from 2013, when a majority considered a degree worthwhile. In 2017, 49% said it was worth the cost and 40% said it wasn't.
Rising tuition costs are a major factor behind this skepticism. Adjusted for inflation, the average cost of public four-year college tuition has doubled since 1995, with private college costs up 75%. Even among college graduates, fewer than half now see their degrees as worth the price. The decline in perceived value spans nearly every demographic group, but is especially pronounced among Republicans: just 22% of GOP voters now see a degree as worth it, down from 55% in 2013.
Among Democrats, the figure dropped from 61% to 47%. Despite data showing that people with college degrees tend to earn more and have lower unemployment rates, more Americans are questioning whether the return justifies the cost—especially as stories proliferate of graduates struggling to find well-paying jobs in their fields. The upshot is a surge in interest in technical, vocational, and two-year programs, as more students seek quicker, less risky paths into the workforce, NBC notes. A Gallup poll released in September found a similar decline in perceptions of the value of a college degree. Only 35% rated it as "very important," down from 75% in 2010 and 53% in 2019.
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