4 Yr Degree Not Worth The Cost

Poll: In a dramatic shift, Americans no longer see four-year college degrees as worth the cost
https://www.yahoo.com/news/articles/poll-dramatic-shift-americans-no-100000902.html

 

A few pieces stick out to me from that article: one is that people polled are drawing conclusions that cut against the actual data about college degrees increasing lifetime earning power (noted in the article), and two, that the divergence between facts and feelings is especially pronounced among Republicans. That raises the spectre that people are devaluing college degrees not because they're actually a bad deal, but because they associate a college education with a segment of the population they don't like.

 

This is the nuance the article doesn't fully articulate.
The payoff happens over decades, while the debt hits right away.
Media narratives amplify the worst-case scenarios - high-debt, low-wage graduates get disproportionate coverage.
“I’m paying $300per month in loans, so my degree isn’t paying off.”
usually, even if they are earning $500+ more per month because they have the degree.

Public confidence dropping ≠ economic value dropping.
Financial return of degrees collapsing claims are not supported by data.

 

Donald Trump cashed in on that distrust and dislike.

 

A college degree is about more than earning potential. It also creates access to networks and relationships that can lead to meaningful opportunities in the future.

Earning a degree opened doors and secured meetings that I simply could not access with only a high school diploma, even to the point of not being able to get in the building before.

 

I believe it really depends how much you pay for the degree. If you go to Boston University and pay full freight, you're looking at almost $400,000 in total costs. The return on investment for that kind of money is pretty tough.

A MA resident can go a few miles northwest to UMass-Boston and pay less than $80,000 (free if your family makes <$75,000 per year).

Is the BU name worth that kind of disparity? I personally don't think so, but I'm sure BU alums would disagree with me.

 

My bachelor's got me an opportunity at Xerox while I was a reservist and in grad school.
My MBA helped me get promoted to captain and was mandatory for my assignment as an AFROTC instructor.
My PhD was vital to establishing my career as a consultant and, later, as a federal civil servant.
Even my DSocSci was critical in establishing my private practice once I returned to the private sector.

I'm happy for people who build prosperous and fulfilling careers or occupations that don't require a degree. But the exception doesn't prove the rule, and the reality is that, on average, people who hold college degrees earn hundreds of thousands more in their careers compared to those with high school diplomas.

The real question is one of causation. Do degrees generate career opportunities that lead to these higher earnings? Or is it that the drive necessary to complete a college degree also helps propel people in their careers? My guess is that it is both.

 

The debts are also paid off over decades (in most cases).

 

I believe in the liberal arts, actually. In the long run, being civilized pays off personally and professionally.

 

There is no doubt that the cost of college is outrageous. Unless you major in a program that will get you a job after graduation (like Health care related degrees) it is not worth it. If you want to learn for learning sake there are much cheaper option as MOOCs. It's time to eliminate college programs where students have no real potential for employment afterwards. Stop paying football coaches and college presidents millions of dollars. And ban these predatory college loan programs. IF these loans didn't exist no one would go to college- It would be unaffordable for most. If no loans colleges would be forced to cut costs to obtain students and would eliminate unnecessary fees and programs.

 

While what Steve says is true there are other considerations.

Arguments against getting a college degree often center on the high cost and resulting student debt, the fact that a degree is no longer a guaranteed path to a good job, and the value of pursuing alternative career paths like trade skills.
Key arguments include:

• High Cost and Student Debt: The cost of college tuition and living expenses has risen much faster than average incomes, forcing many students to take on significant debt. In spring 2024, borrowers in the U.S. collectively owed $1.75 trillion in student debt. This debt can delay major life milestones like home ownership, marriage, and saving for retirement.
• No Guarantee of a Job or a Better Life: A degree is no longer a "golden ticket" for success. Many graduates are underemployed, working in jobs that do not require a college degree, and some studies show that new graduates may earn less (adjusted for inflation) than their parents did at the same age.
• Opportunity Cost of Time: The four or more years spent in college and the associated study time mean lost opportunities for earning money, gaining real-world work experience, or starting a business.
• Alternative Paths are Viable: Many well-paying and essential jobs in the skilled trades (like electricians and plumbers) require less than four years of training and are in high demand, leading to a "skills gap" in the U.S. workforce.
• Focus on Skills, Not Credentials: Many employers, including executives at major companies like SAP and Carrier Global, are increasingly focusing on skills-based hiring, apprenticeships, and certifications rather than requiring a traditional four-year degree.
• Lack of Job Preparedness: A significant number of business professionals feel that recent graduates often lack essential professional skills like handling workloads, meeting deadlines, and basic communication.
• Mental and Emotional Stress: College can be an acutely high-stakes and stressful environment, and some students may not be emotionally prepared for the demands of independent living, academic pressure, and managing their own well-being.
• IF your are a minority or female you may make more over a lifetime than a high school graduate but will still make less than white males. This is not an educational issue, per se , but a societal one.
• Females and racial minorities generally do not earn as much as White individuals with bachelor's degrees
  , and a wage gap persists across all education levels. While education increases earning potential for all groups, it does not eliminate the pay gap, particularly for Black and Hispanic women, who often earn significantly less than White men with a bachelor's degree.
  • Women: White women earn roughly 80% of the hourly wages of White men with similar education levels.
  • Black women: With a bachelor's degree, Black women earn substantially less than White men with the same degree and may earn what a White man with only a high school diploma earns.
  • Hispanic women: Hispanic women with a bachelor's degree earn even less than their White and Black counterparts.
  • Asian women: Asian women with a bachelor's degree earn more than White women with the same education but still less than White men.
  • Asian men: Asian men with a bachelor's degree earn less than White men with a bachelor's degree, although the gap is smaller compared to women.
  • Racial minorities: Regardless of gender, racial minorities with a bachelor's degree have lower median incomes than their White counterparts with a similar education level.
  • Where you live matters
  • State-level variations
    • Earning potential: While average lifetime earnings are higher for college graduates, specific earning potentials can vary by state depending on the dominant industries and the local job market.
    • Cost of living: The cost of living in a state can also affect the real value of those earnings. For instance, a higher salary in a state with a high cost of living may not provide as much purchasing power as a lower salary in a state with a lower cost of living.
  Ultimately, the decision often depends on an individual's chosen field, financial situation, and personal goals, and it is increasingly important to weigh the potential return on investment (ROI) carefully.

 

"If you think education is expensive, try ignorance." -- Derek Bok, President of Harvard University

 

Nice quote but still doesn't negate the above issues. Many countries offer low or no cost education to their citizens. It doesn't have to be as expensive as it is here. Combined with everything eles going up in price (healthcare/ food/energy etc) it puts a lot of colleges out of reach for average families. We're starting to get it. Massachusetts for example give people free community college so at least citizens can get an Associate degree to better their lives.
For the 2025-2026 academic year, Harvard's undergraduate tuition is $59,320, with the total cost of attendance (including fees, room, and board) estimated at $86,926. However, many students will pay significantly less due to financial aid, and tuition is free for students from families earning less than $200,000. IF they didn't offer free tuiton and financial aid how many average familes could send their kids there- only very rich and elites.

 

https://fortune.com/2025/05/19/some-degrees-really-are-a-waste-of-time-and-money-these-are-the-10-worst-paying-college-majors/

 

As an example to live comfortably as a single person in Rhode Island, an annual income of approximately $59,936 is required, according to a 2023 survey that calculated the living wage based on necessary expenses and discretionary spending. This figure aligns with the state's high cost of living, particularly in housing, where the median home price is $512,750 and median rent is $2,300 per month . While the median income in Rhode Island is $54,040, a salary range of $65,000 to $85,000 is generally considered comfortable for a single individual, especially in higher-cost areas like Providence . Salaries in the state vary significantly by location and industry, with professionals in technology and healthcare earning substantially more, while entry-level roles typically pay around $50,000 annually .
So if your goal and desire is to be a much needed elementary school teacher a mid career salary Elementary education ($53,000) is not going to lead to a comfortable life financially. So yes some pay more than others and taht is the point. Is getting a degree in elemenatry eduction going to be worth the cost in the longrun? Especially if you are a women or minority who will probably make less than a white male in ths same job?
If educated in Rhode Island at a stete university
The yearly cost for the University of Rhode Island (URI) Elementary Education program varies, but for the 2025-2026 year, in-state residents can expect around $33,604 total for on-campus living (including tuition, fees, room, and board), while out-of-state costs are higher; tuition/fees alone are about $17,476 for in-state and $38,398 for out-of-state, with financial aid reducing the net price for many students.
For Rhode Island Residents (2025-2026 Estimates)

• Total On-Campus: ~$33,604 (Tuition/Fees: ~$17,476; Room/Board: ~$16,128)
• Total Off-Campus: ~$29,852
• Total Commuter: ~$21,226 For Out-of-State Students
• Tuition & Fees: ~$38,398
• Some students will receieve finanical aid to lower the costs but we're talking about the new teacher possibly having to pay back loans of over 80-100 thousand dollars. Is this degree worth it considering the above? Is 3o thousand dollars a year extremely affordable for this person. And to further her career will most likely need to go for a Master's degree and more debt.
• I am a big believer in Education - I was fortunate to receive the GI bill to finance much of my education. I was lucky the Air Force provided me with training that pointed me in the direction with a career where you can make a a decent salary even at the Associate degree level. I just feel for those who pay these outrageous prices for a degree that will not really return their investent. Society suffers as I know many young people who want to be nurses. socal workers and other needed human service workers but will not go to college to study these fields because they can't afford it or will receive low wages ( social workers etc) for their choice of careers. Only they can decide if it is worth it.