College Education Regrets Plague Most Americans
|Tuesday, July 2, 2019 | Author: ProCon.org | MORE HEADLINES|
A Georgia Tech graduate.
Source: Will Folsom, "DSC_0610," flickr.com, May 8, 2011
Two-thirds of American employees have regrets related to their college educations, according to a June 25, 2019 PayScale survey. Student loans topped the list as the primary regret (27.1%), followed by area of study (12.2%), not taking advantage of networking opportunities (11.2%), time taken to complete the degree (5.8%), and academic underachievement (5.2%). On the other hand, 34% of those surveyed expressed no regrets about their higher education.
Private college graduates were more likely to regret student loans (33.5%) over public school graduates (24.4%).
Wendy Brown, PayScale Director of Content Marketing, stated: "Our research shows the student debt crisis is impacting today's graduates in a very real way. Not only are they struggling with the burden of student loans to pay for the rising costs of education, but they are then also faced with stagnant wages when they enter the workforce because pay for jobs in many areas of study has not kept pace with inflation."
Approximately 70% of 2019 college graduates are leaving college with an average of $33,000 in student loan debt. Regardless, some still say that attaining those degrees matters. Jaison R. Abel, PhD, and Richard Deitz, PhD, Assistant Vice Presidents of the Federal Reserve Bank of New York, stated: "While the rising cost of college may be troubling, it has not yet changed the basic calculus as to whether earning a college degree is worth it. The benefits still outweigh the costs, at least for most people."
|1. Is a college degree worth it? Explain your answer.
2. What are some solutions to the student loan debt problem? Explain your answers.
3. Should college be free? Why or why not?