Tuition only goes up, and debt can follow you for decades. So — the age-old question — is college worth it? For the answer, who better to ask than those who have done it?
Intelligent.com, a resource for online degree rankings and higher education planning, recently published a survey report examining graduate opinions on the advantages and disadvantages of attending college. It found that most — but not all — graduates are satisfied with the return on investment for college tuition.
Thirty-nine percent of college grads say they strongly agree, and another 41% say they agree, that paying for college was worth it. In contrast, 20% of respondents do not believe that attending college was worth it. Among dissatisfied grads, 42% believe that college is a poor investment.
MAIN FACTORS AFFECTING SATISFACTION: MONEY CONCERNS & JOB STATUS
Intelligent.com commissioned the survey which was administered via the online survey platform Pollfish. The survey was conducted from March 25 to March 26, 2022 and included 1,250 American adults ages 25 and older who had a college degree.
According to the report, financial concerns and career success are dominant factors influencing graduates’ satisfaction with their degree programs. Forty-three percent of respondents with unfavorable views about college are still repaying student loans. Only 32% who say attending college was beneficial hold student loan debt. Similarly, 41% of respondents who believe college is valuable have been working in roles related to their degrees since graduation.
Dissatisfied grads account for just 27% of respondents with jobs related to their degrees.
‘THE SPECTER OF 45 MILLION AMERICANS WITH STUDENT LOAN DEBT LOOMS LARGE’
As satisfied with their college experience as many reported themselves to be, the study also shows that many grads would opt for a different major regardless of how they feel about their overall college experience. Twenty-nine percent of respondents who believe college was not worth it would choose a different major. Comparatively, 33% of grads who value their college experience say they would select another degree program. Twenty-three percent of respondents from that group also say they would attend a less expensive school.
As the report reads, “The specter of 45 million Americans with student loan debt looms large over any conversation about whether attending college is worth it.
“Thirty-five percent of survey respondents didn’t use any student loans to pay for college. Thirty-one percent did, but have repaid their loans in full, while 34% are still repaying their student loans.”
See Intelligent.com’s complete report here.