A college degree is more or less seen as the first step or ladder to achieving a career goal or an opportunity to further explore new avenues. But for many Americans, a four-year college degree isn’t worth it.
According to an NBC poll of 1,000 registered voters, 33% agree that a four-year college degree is “worth it.”
They believe that this leads to a better chance of getting a good job and earning more money over a lifetime.
However, in contrast, 63% of people think it is “not worth it” because people often graduate without specific job skills.
The survey was conducted through a combination of telephone interviews and an online survey sent via text message between October 24 and 28.
According to the survey, respondents feel that rising costs are the main reason undermining the value of a four-year degree.
In 2017, 49% of US adults said the degree was worth it, and 47% said it wasn’t.
While in 2013, a CNBC poll revealed that 40% believed the degree wasn’t worth it, compared to 53% who said it was.
The report notes that data from the Bureau of Labor Statistics shows that people with more education earn more and have lower unemployment rates than people with less education.
Preston Cooper, a senior fellow at the right-leaning American Enterprise Institute, said some people are leaving, saying, “Sometimes people end up with a degree that isn’t worth much in the job market, and sometimes people pay too much for the degree relative to what the credential is worth.”
A report was recently released Oxford Economics says that the main reason why unemployment is rising faster among younger age groups is the fact that many of them are either entering the job market for the first time or returning to the job market after graduating from college.
“The current job market with no hires and layoffs — and the prospect of jobless expansion — is a huge challenge for Gen Zers just entering the workforce,” the report said.
He added that unemployment is rising and wage growth among young adults is falling, which could have a long-term impact.
