Education, in general, is widely regarded as the key to success. A college degree is often regarded as the ticket to a high-quality and affluent life.
In recent times, things have been a bit different and slightly moving away from the norm. A new survey from the Pew Research Center suggests Americans have mixed views on whether a college is worth it. The research also showed that people without degrees have increased their earnings in the last decade.
According to the research findings, just 1 in 4 adults indicated that having a four-year degree is extremely important or very important if you want a well-paying job. Forty percent of the research population indicated that it is not too important or important at all.
Regarding the cost of education, 22% of the respondents said getting a bachelor’s is worth it, although you might need a student loan to support yourself. Almost half of the respondents think education costs are only worth it when it do not result in student debt. With the current trends in labor and the economy, it is not shocking that many Americans have low confidence with the rising tuition fees and student loan debts. For many years, the income of males, especially males, decreased until 2014. According to the research findings, the last decade has marked a turning point.
According to records, 17% of young people with a high school diploma were living in poverty in 2011, but the figure dropped to 12% in 2023. Workforce participation for young men has stabilized, and their incomes have increased significantly. Gradually, the rate of poverty among young men with only a high school diploma is declining.
As many young people tend to achieve significant success with just a high school diploma, this shifts the minds of many people from college degrees. Considering the duration and cost of education, which sometimes end in students’ debts, most people are gradually losing faith in college degrees. Per the research analysis, just a third says that a four-year degree is relevant.
Based on political options, skepticism is more pronounced among Democrats or somewhat Democrats. About 57% of Republicans said it was less important to have a college degree. The findings showed that both political parties believe the importance of a college degree has declined rather than increased.
The research findings coincide with the Biden administration’s efforts to forgive student debts, which is about $1.6 trillion owed by certain student debtors. In addition to paying for tuition, there has been a lot of tension and culture wars on some campuses. Some of these challenges have sparked a lot of debate about the value of college degrees.
There is no doubt that degree holders have trended to earn more, and their earnings have also increased significantly. The research proved that the earnings of degree holders have been on the rise. There is a gap between people with college degrees and those with only high school diplomas.
The rise of technology and many online learning platforms has also shifted the minds of many high school diploma holders away from a four-year college degree. According to research, some people think a college degree is worth it, and others think otherwise.
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