Is college worthwhile? Two-thirds of Americans say no, new poll finds

Most Americans no longer hold the optimistic view of higher education they once did.  

A new poll published by NBC News found nearly two-thirds of Americans, or 63%, believe a four-year college degree is "not worth the cost because people often graduate without specific job skills and with a large amount of debt to pay off.” 

The poll, fielded Oct. 24 to 28 among 1,000 registered voters, adds to a growing body of research showing a dramatic shift in Americans' views on college over the past decade. A similar CNBC poll in 2013 found a majority, or 53%, of Americans believed college was worth the financial investment. 

A Gallup poll published in September found only 35% of American adults viewed college as very important, compared with 70% in 2013.  

The changing outlook comes amid major transformations to the higher education landscape and the labor market, including the rising cost of a college education and advancements in artificial intelligence that are changing the workplace. 

The cost of one year of college at a private four-year institution jumped from an average of $26,580 for the 2010 academic year to $38,420 for the 2022 academic year, a roughly 45% increase, according to the Education Data Collective. 

Americans with advanced degrees have historically earned more and had lower unemployment rates than their peers without any college experience, according to the Bureau of Labor Statistics.

But Gad Levanon, chief economist at the Burning Glass Institute, a think tank focused on the future of work, argues that the high cost of college has begun to close the gap.  

Although college graduates are still more likely to earn a higher income, Levanon said, the “college wage premium is shrinking.” 

The rise of artificial intelligence, or AI, “should be a pretty big concern” for college graduates, Levanon said. But he warned that the rise in automation probably will affect trade workers in the future, too.  

“If you look like 10, 20 years from now, maybe the balance will shift again and then people would regret not doing a bachelor’s degree,” he said. “It’s hard to predict what will happen.”   

A political divide 

People across age, race and gender demographics were all less likely to see college as important and worthwhile than than they did a decade ago in both surveys. 

But both Gallup and NBC found the shift in sentiment more pronounced among Republican voters. According to the NBC survey, 55% of Republicans saw college as worthwhile in 2013, compared with just 22% today – a 33% decline.  

Support among Democrats, meanwhile, dropped 14%.  

During the same time frame, the makeup of the Republican and Democratic parties has shifted. Democrats have gained support among voters with degrees, and Republicans have made inroads among those without them.

The larger drop in support for higher education among Republican voters probably is related to concerns that colleges and universities are partisan, according to a Gallup analysis. 

Research by Gallup and the Lumina Foundation, a nonprofit higher education organization, found that “38% of Americans who lack confidence in higher education cite politics, with another 32% saying college doesn’t teach the right things.” 

Karissa Waddick, a reporter on USA TODAY's Nation Desk, can be reached at [email protected].