Americans don't think college is worth it. It is.
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The share of Americans who say college is "very important" plummeted over the past decade, new Gallup polling finds.
Why it matters: College may not live up to the American Dream that it promised in the past — and there are other pathways for success becoming more appealing for Gen Z — but in terms of lifetime earnings, a college degree is actually still important.
The big picture: There are plenty of reasons for the decline in perceived value among Americans.
- School is expensive, student loan debt is often onerous and job security for those with degrees has diminished — even more so with the advent of AI. Plus, at the moment, new graduates are seeing higher unemployment rates.
- There's also growing interest and appeal for young adults in the skilled trades — becoming plumbers, electricians, etc. — especially as AI appears to threaten white collar work.
Zoom in: People with bachelor's degrees in NWA make a median income of about $69,600, compared to $42,100 for people with high school diplomas. And those with advanced degrees make about double that of those without any college degree.
- Caveat: The data doesn't differentiate between those who have only a high school diploma but also have other qualifications, like a certification or license required for certain jobs that could pay more than jobs that only require a high school diploma.
Between the lines: There's also been loud criticism, particularly from conservatives, over the political leanings of universities, criticized as "elitist," "woke" and "leftist."
- Yet both Democrats and Republicans express far less support for higher education than they did more than a decade ago.
By the numbers: In 2013, 68% of Republicans said a college education was very important; this year that number fell to 20%, per Gallup.
- There's an even split between Republicans who say it's "not too important" (39%) and those who say it's "fairly important" (39%).
- Democrats went from 83% who said college was "very important" to 42%. Most, however, describe college as "fairly important."
Where it stands: College grads earn more than twice what high-school graduates make.
- The median income in a household headed by someone with at least a bachelor's degree was $132,700 last year — that's more than double the $58,410 median income of a household led by a high-school grad, according to Census income data released in September.
- And earnings for college-led households have pulled away from the pack — rising more than 6% over the past two decades, compared with a 3% increase for high school graduates.
Yes, but: It's certainly possible to become successful without a degree. The rapid advancement of AI has led many to worry about job security and prospects for knowledge workers across industries.
- And shortages of certain blue-collar workers have put a spotlight on the trades as a strong alternative career path.