Is College Worth It Anymore?

It’s many people’s dream – going to college but is it truly worth it anymore?

According to a recent Pew Research poll of over 2,000 adults and over 1,000 college and university presidents, the answer is intriguing.

Over half the adults surveyed believe higher education does not provide “good value” for the money spent and three-fourths of those surveyed say it is too expensive to afford. It is interesting to note that 86% of those same people say their college investment was good for them personally.

Another point that is interesting: according to a 2010 report from the U.S. Census Bureau, the earnings gap between college graduates and high school graduates is slightly under $20,000 annually. So, depending on how much each year costs, it could take as long as 4 to 10 years to make up the gap in costs versus benefit.

The debt incurred by students can be a large burden after graduation, almost making it harder to get started when college should make it easier. According to the Pew survey, almost half say their debt payments are making paying other bills difficult. A quarter of the respondents also noted it’s harder to buy a house with that debt as well. So, college could actually be strangling those people who wish to produce.

Shockingly (to me, at least) is that less than half (47%) say the purpose of going to college is to teach work-related skills (48% of college presidents hold this view too). And 39% of them say the MAIN purpose of going to college is for students to grow “personally and intellectually.” If college isn’t for preparing you for a career, why go?  Our kids can get a lot of life experience by doing mission work, volunteering, living abroad or many other things that don’t cost $20k per year!

While work ethic is extremely important to 61% of respondents, just 42% of them say a college education is.

For college presidents, 38% believe higher education is headed in the wrong direction – remember, these are the people who direct these institutions. It will also come as a shock to readers that only 19% of these presidents believe the higher education system in the United States is the best. Only 7% believe it will be the best in 10 years – wow. Maybe your 529 funds would be better spent on vocational training or on a foreign college.

President Obama has a goal that by 2020, the U.S. will have the highest share of young people holding college degrees. From all of this information, this may not be the best path for Americans. What do you think? Are you saving for your childrens’ college? Do you think your kids will go to college?

Marijo Tinlin is the editor in chief of Family First, one of the oldest family-oriented websites on the internet. She is also the author of the new book about patriotism and teaching our children to love this country. It’s called “How to Raise an American Patriot, Making it Okay for Our Kids to Be Proud to Be American” and features 13 interviews with patriotic Americans including Ed Meese, Erick Erickson and Jackie Gingrich Cushman. It’s available at www.raisinganamericanpatriot.com.