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Is College Worth The Cost?

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Is college worth the cost? According to a report released yesterday, concerns about student loan debt and rising tuition costs have many college graduates currently questioning whether their education was worth the expense.


Image: VirginiaNPTI

A study by Gallup and Purdue University reveals that only 38 percent of those who earned a bachelor’s degree starting in 2006 strongly agreed that their education was worth the cost. 50 percent of all US college graduates said they “strongly agree” that their undergraduate education was worth the cost.

The study does note that recent college graduates might be more apt to have student loan payments. Ergo, the more outstanding debt they have, the more likely they would be to say their education was not worth it. The study states: “To some extent, older alumni might be more likely to say their education was worth it because they are further along in their careers and making more money.”

Approximately 50 percent of both public and private non-profit university graduates strongly felt that their undergraduate education was worth the cost. Only 26 percent of graduates from private for-profit universities felt their education was worth the cost. The study noted that the latter was also apt to have more debt from student loans as well.

The study utilized data from questionnaires completed by 30,151 U.S. alumni age 18 and up who earned at least a bachelor’s degree anywhere in the US.  The inquiries were conducted between December 16, 2014 and June 29 of this year. There was a “plus or minus one” margin of error.

63 percent of the recent graduates who responded stated that they used student loans for their undergraduate degree. The study reported that the median loan size was $30,000. Over 33 percent of them borrowed over $25,000. The report concluded that the specific percentage is even higher among “first generation” college graduates and “recent black alumni”.

Is College Worth The Cost?

About Will Phoenix

W. Scott Phoenix, B.A., B.S. was born in Hawaii, raised in Pennsylvania and resides in California. He has been a published writer since 1978. His work has appeared (under various names) in numerous places in print and online including Examiner.com. He is a single parent of three children and has also worked as an actor, singer and teacher. He has been employed by such publications as the Daily Collegian and the Los Angeles Times.