We’ve long held the belief that college degrees are a near guarantee of a successful future. But studies are showing that the cost of college may not be providing the same level of financial return for graduates as it once used to. What’s next for our university system?
Last week, our recent college graduate shared with us her experience graduating during a pandemic. And questioned the line students are told all throughout school, “get a degree and you will get a good job.” But years of data is starting to show that perhaps college doesn’t deliver the level of financial return that we convince our kids it will.
- From 1989 to 2016, college tuition increased 98% (inflation adjusted)
- This pace of growth is 11 times more than real median household income
- Leading to an average student debt of more than $32,000 by 2017
- In 2010 only 27% of college grads were in jobs related to their major
- As of 2019 only 66% of college grads were in jobs that even required a degree
Combine these statistics with the current financial situation at many universities, you can’t help but wonder – what is the future of higher education in the US? Read more about if college degrees will guarantee a good life.
Do you think college degrees are worth it?
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