College Education
The American debate over whether a college education is worth it began when the colonists arrived from Europe and founded “New College” (later renamed Harvard University) in 1636. In spring 2024 there were more than 17.8 million college students in the United States. [133][269]
College in America: 1600s–1800s
Colonial America produced nine colleges that still operate: Harvard University (1636), the College of William & Mary (1693), Yale University (1701), Princeton University (1746), Columbia University (1754), Brown University (1764), Dartmouth College (1769), Rutgers University (1766), and the University of Pennsylvania (1740 or 1749). These universities were funded by the colony or England and usually catered to a specific religious denomination, such as Congregational or Presbyterian (Puritan). Primary and secondary school systems were not yet established, so “college students” were sometimes boys as young as 14 or 15 years old and were admitted to receive preparatory education with the assumption that they would matriculate to college-level courses. [3][78][79][80][81][82][83][84][85][86]
Colonial colleges were mainly founded and attended by wealthy Puritans and followed the models of British and Scottish universities, which focused on general education and moral character. The goal of the college was to produce Christian gentlemen who would inherit family businesses, remain within the Congregational or Presbyterian (Puritan) faith, and be responsible leaders in the New World. Colonial college tuition costs and the loss of an able-bodied man from the family farm or business made the prestige and social status conferred by college unattainable for most families. About 1 percent of white males aged 18–21 attended college, and students frequently left college after their first or second year, with no “dropout” stigma. Out of 35 students, Yale conferred nine bachelor’s degrees by 1711. Colonial colleges excluded women but sometimes had “Indian schools” to spread Puritanism in Native American communities for religious indoctrination purposes. The American Revolution (1775–83) drained colleges of students who became soldiers and buildings that became barracks and of the funds from England, resulting in the closing of many colleges postwar. [3][87][88]
The late 18th and early 19th centuries created a college-building boom, increasing the number of schools from 25 colleges in 1800 to 241 colleges in 1860; the variety of schools to include seminaries, scientific schools, military service academies, and teaching schools; and the programs of study to include medicine, law, military science, and agriculture. State universities came into prominence beginning with the University of North Carolina (1795) and the University of Georgia (1801). In the spring of 1833, Oberlin Collegiate Institute (now Oberlin College) admitted women to a “ladies course” program and in 1837 admitted four women to the baccalaureate program, three of whom graduated in 1841 with degrees. [3][100]
The 1862 Morrill Land-Grant Act gave federally controlled land to states to open “land-grant” colleges, which were required to focus on “useful arts” like agriculture, mechanics, mining, and military instruction and thus often included “A&M” (agricultural and mechanical) in the names. The idea of a “useful” education also created schools like the Massachusetts Institute of Technology in 1851. Many craftsmen who relied upon apprenticeships were skeptical of college training and distrusted scholars and scientists. A college degree was still seen by many as a social marker rather than a marker of educational attainment. [3][89]
By 1865 most Southern colleges ceased offering classes because the American Civil War caused significant physical damage to many colleges, while others were made into hospitals and shelters for soldiers, and many Southern students and faculty left college for the Confederate Army. In 1870 the number of colleges was 560 (up from just nine colleges by the American Revolution). [3][87]
The Early 1900s
The early 1900s saw institutions created to educate groups excluded by traditional colleges: women, Black people, immigrants, and Roman Catholics. Black colleges remained restricted to grade-school and agricultural- or industrial-focused instruction with little college-level education offered. Iowa State University was the first co-ed land-grant college, though women remained segregated and were expected to study “domestic science” or similar topics. Colleges were built in the South to keep Southern sons “far from the dangerous notions circulating at a Harvard or a Yale,” with high tuitions and a code of honor that included duels amongst students. “Hilltop colleges” in New England opened to cater to older working students training to be teachers or ministers. Colleges built on the emerging Western frontier had small populations to support them and there were often less than a few hundred students who could attend the college. “Diploma mills” also popped up during this time, especially the “medical college,” which frequently had no campus or faculty but would confer degrees in exchange for donations. [3][90][91]
The goal of college attendance still was not completion of a bachelor’s degree. Some students took two years of courses in order to earn a license of instruction certificate to teach public school, but many did not complete the degree because, as explained by Roger L. Geiger, distinguished professor of education at Pennsylvania State University, “There was nothing to be done with a bachelor degree that could not also be done without one.” [3][92]
By 1900 5 percent (about 256,000) of 18–21 year old males attended college, up from 3.1 percent (32,364) in 1860 and 1 percent (1,237) in 1800. Students were normally accepted based on gender, religion, and race. Graduation rates continued to be low: about 30 percent of the 1903 freshman class at Kentucky State College graduated, while Transylvania University averaged a 50 percent dropout rate in the first year and barely 10 percent graduated with a degree in four years. [3][87]
Although tuition had seen no major increases, the price of college was still too high for the average family. For the 1907–08 academic year, Brown University published an average tuition budget: $105 for tuition, $48 for “incidental fees,” $60 for room, $150 for board, and $30 for books and lab fees, totaling $393 per year, or $9,535.67 in 2012 U.S. dollars. By 1910 “undergraduate life” came into prominence with mascots, school colors, college hymns, intercollegiate athletics, and other traditions. [3]
World War I dropped enrollments on the East Coast by 27–40 percent, but only 10 percent of Stanford men left college for the war. In total, 540 colleges were made into training campuses for the Students’ Army Training Corps to train 125,000 men. Around this time, the American Medical Association began lobbying for medical schools to require some college science (if not a completed college degree) for admission into medical schools, law schools followed Harvard Law School’s example to require baccalaureate degrees for admission, and seminaries were requiring at least a year of college. [3][92]
After 1920 college students became associated with parties, gambling, and “bathtub gin.” But such partying was tolerated because of the upward social mobility gained by making contacts and partying with the right crowd. [3]
Between 1920 and 1945 secondary schools expanded, increasing the number of high-school graduates, the number of college students from 250,000 to 1.3 million, and the percentage of college students from 5 percent to 15 percent. However, an 18- to 24-year-old white person was four times more likely to attend college than a Black person of the same age, and women constituted about 40 percent of college enrollments but were still being trained in segregation as teachers, good wives, and mothers. [3]
In the 1920s and 1930s college tuition started to rise. One national survey showed tuition at $70 in 1920 and $133 in 1940, or from $1,064.44 to $2,889.21 in 2023 U.S. dollars. In comparison, a 1940 new Pontiac car cost $483 ($10,492.38 in 2023 dollars). [3]
World War II through the 1980s
After World War II, colleges and universities moved toward advanced, selective programs and expanded the base of students admitted. Research universities, junior colleges (now called community colleges), and for-profit institutions thrived. [3]
In the 1939–40 school year student enrollment was under 1.5 million nationally, but by the 1949–50 school year student enrollment grew to 2.7 million. The 1944 G.I. Bill contributed to some of the enrollment gains, and by the beginning of the 1945–46 school year 88,000 veterans were accepted into the program; by 1946 over one million were accepted; and by 1950 14 million veterans were in the program. Women represented about 40 percent of enrollment in the 1939–40 school year, but that number dropped to 32 percent in 1950. Individual schools implemented honor programs, specialty seminars, study abroad, and smaller class sizes to attract more discerning students. By 1960 national enrollment was at 3.6 million and at 7.9 million in 1970. Society became interested in the college lives of “Joe College” and “Betty Coed” and created the college ideal of graduating in four years, marrying the college sweetheart, and finding a good job. [3]
The federal government created the Higher Education General Information Survey, later renamed the Integrated Postsecondary Education Data System, and collected data in the fall of 1968, the first time standardized data was collected about colleges and universities nationwide. [93]
Pell Grants were introduced in 1972 and increased the number of students for whom higher education was possible. By 1978 the financial aid focus changed from grants to loans, increasing the amount of debt a graduating college student owned. In the 1975–76 school year 75 percent of students received grants and 21 percent received loans, compared to the 1984–85 school year, in which 29 percent of students received grants and 66 percent received loans. [3][94]
The major shift in higher education during this time was the transition from mass higher education, expecting to educate 40–50 percent of high-school graduates, to universal higher education, expecting to educate all high-school graduates. The shift was seen in public school enrollments, which accounted for about 75 percent of enrollments in 1970, up from the almost equal split between public and private colleges in 1950. Community colleges and technical institutes also gained students: from 82,000 in 1950 to 1.3 million in 1980. [3]
Transfer students were accommodated, classes were offered at military bases, and courses were offered at extension sites for nontraditional students while colleges were opening to diverse student populations. Title IX (1972) and affirmative action demanded inclusive admission practices for women and Black students. [3][95][96]
The 1970s also saw the shift from higher education for education’s sake to a need for pre-professional studies and a translation to work after graduation. For many, to be considered middle-class or to get a middle-class job required a college degree. [2]
The 1970s and 1980s brought questions of whether the return on a college degree was worth the investment. In 1971 a male college graduate earned 22 percent more than a high-school graduate, but by 1979 a college degree increased earnings by 13 percent. By 1987 the earning gap was 38 percent, which was an improvement but added doubts about the stability of higher education as an investment. The 1980s also brought a dramatic increase in the cost of college, which was rising faster than inflation and the average family income. [7][29]
College Enrollment and Costs: 1990s to 2019
The 1990s and 2000s saw a rise in enrollment and tuition costs and a steadily lower unemployment rate for college graduates. College enrollment increased 11 percent between 1990 and 2000 and increased 37 percent from 2000–10 to 21 million students. The average college tuition in the 1990–91 school year was $10,620 and rose to $13,393 in 2000–01. Between the 2000–01 school year and the 2010–11 school year public college costs (tuition, room, and board) increased 42 percent to $18,133.
The unemployment rate for workers with a bachelor’s degree or higher in 1990 was 6.5 percent (compared to 24.9 percent for high-school dropouts) and was 3.7 percent in 2000 (compared to 18.4 percent for high-school dropouts). By 2010 the unemployment rate for college graduates increased to 5.5 percent, while the rate for college dropouts was 17.3 percent. [97][98][99]
A 2011 Pew Research survey showed 50 percent of college presidents said college is meant to “mature and grow intellectually,” while 48 percent said college should “provide skills, knowledge and training to help…[students] succeed in the working world.” [25]
The number of colleges and universities grew from 1,851 in 1950, to 3,535 in 1990, to 6,900 in 2013. In the 1949–50 school year 2.66 million students were enrolled in colleges and universities; by the 1989–90 school year 13.54 million students were enrolled. In fall 2013, 19.9 million students were enrolled in colleges and universities. [1][2]
According to the U.S. Census Bureau, 33.4 percent of the adult U.S. population had a bachelor’s degree or higher as of Mar. 30, 2017 (up from 28 percent in 2006), with 20.8 percent holding bachelor’s degrees, 9.3 percent with associate’s degrees, 1.5 percent with professional degrees, and 1.9 percent with doctorates. In 1940, when the U.S. Census Bureau began collecting education data, only 4.6 percent of adults held bachelor’s degrees. [109][110]
College Education amid COVID-19
As many colleges went online or to a hybrid online and in-person model during the COVID-19 pandemic, colleges overall saw a significant drop in fall 2020 enrollment. Undergraduate enrollment fell 3.6 percent (about 560,000 students) from fall 2019. Community colleges were hit especially hard, with a drop of more than 10 percent (more than 544,000 students). [130]
21.7 percent fewer high-school seniors (class of 2020) had enrolled in college, with a larger drop (32.6 percent) at high-poverty high schools. 14 percent fewer students in the class of 2021 filed Free Application for Federal Student Aid forms. [130][131]
Doug Shapiro, executive research director at the National Student Clearinghouse, called the drops “completely unprecedented.” [130]
One survey showed that 75 percent of households with at least one member attending college classes in fall 2020 changed higher education plans during the COVID-19 pandemic. Most often, households took classes in a different format (39 percent) or canceled plans altogether (37 percent), according to Anthony P. Carnevale, director and research professor, and Megan L. Fasules, assistant research professor and research economist, both at the Georgetown University Center on Education and the Workforce. [132]
Post-Pandemic College Experience
College enrollment continued to decline after the pandemic, with 17,153,317 students enrolled in spring 2023, a 7.1 percent decrease in college enrollment from 2019. Both college students and college instructors faced challenges of limited online learning during the pandemic. Rocky classroom experiences resulted in lower test scores, incomplete instruction in vital courses such as math, and increased mental health issues like anxiety. Colleges fear the fallout will last years as reports show that elementary students have experienced the same negative effects of the pandemic. [133][135]
After a widely expected decline, freshman enrollment surprisingly rose for the fall 2024 term. The 5.5 percent increase (about 130,000 students) comes about a year after there were enormous complications with the FAFSA (Free Application for Federal Student Aid) system that delayed application processing, which could have fueled a decline in freshman enrolling right after high school. The Department of Education reported it would award federal aid to 3 percent more students in 2024. [267][268][288]
Pros and Cons at a Glance
PROS | CONS |
---|---|
Pro 1: Jobs increasingly require college degrees, and college allows students to explore careers and earn better job placements. Read More. | Con 1: College is no guarantee of a job or better life. Read More. |
Pro 2: Because they learn interpersonal and other skills in college, graduates are more productive as members of society. Read More. | Con 2: Student loan debt strains college graduates, their families, and society. Read More. |
Pro 3: College graduates and their children are healthier and live longer. Read More. | Con 3: Many people would be better served learning a trade or pursuing work right out of high school. Read More. |
Pro 4: College exposes young adults to a variety of diverse people and ideas. Read More. | Con 4: College has become so politicized that it is no longer a place for unbiased curiosity and learning. Read More. |
Pro Arguments
(Go to Con Arguments)Pro 1: Jobs increasingly require college degrees, and college allows students to explore careers and earn better job placements.
“By 2031, 72 percent of jobs in the U.S. will require postsecondary education and/or training. Between 2021 and 2031, there will be 18.5 million job openings per year on average, and some 12.5 million of these annualized openings will require at least some college education,” according to the Center of Education at Georgetown University. [270]
The projection above bears out historically: only 22 percent of American jobs required a high-school diploma or less in 2021, compared to 72 percent in the 1970s. In 2021, 48 percent of jobs required an associate’s degree or higher. During the recession between Dec. 2007 and Jan. 2010 jobs requiring college degrees grew by 187,000, while jobs requiring some college or an associate’s degree fell by 1.75 million, and jobs requiring a high-school degree or less fell by 5.6 million. According to researchers at Georgetown University, 99 percent of job growth (or 11.5 million of 11.6 million jobs) between 2010 and 2016 went to workers with associate’s degrees, bachelor’s degrees, or graduate degrees. [13][104][105][270]
College graduates are well-placed to get jobs because colleges offer networking opportunities, career services, internships, job shadowing, job fairs, and volunteer opportunities in addition to a wide variety of courses that may provide a career direction. Over 80 percent of college students complete internships before graduation, giving them valuable employment experience before entering the job market. [27]
The unemployment rate for Americans aged 25 to 34 with less than a high school education was 7.7 percent in December 2024. The rate drops to 4.4 percent if the person completed some college, to 3.6 percent with an associate’s degree, to 2.4 percent with a bachelor’s degree, and to 2.0 with a graduate or professional degree. [272]
In addition to being more likely to have a job, those who have attended or graduated from college are more like to like their jobs: 58 percent of college graduates and people with some college or associate’s degrees reported being “very satisfied” with their jobs, compared to 50 percent of high-school graduates and 40 percent of people without a high-school diploma. [11][101][106][116]
Plus, college graduates make more money. On average, men and women aged 25 to 35 working full time with a bachelor’s degree or higher earn $77,000 and $65,000 annually respectively. By contrast, the same age group of men and women with only high school diplomas earn $45,000 and $36,000 respectively. And because college graduates are more likely to have better jobs with better salaries, they are also more likely to have health insurance and retirement plans. [11][15][273]
Pro 2: Because they learn interpersonal and other skills in college, graduates are more productive as members of society.
Students have the opportunity to interact with other students and faculty, join student organizations and clubs, and take part in discussions and debates.
“American children party [in college]. But you know something, by partying, they learn social skills. They learn how to interact with each other.…They develop skills which make them innovative. Americans are the most innovative people in the world because of the education system,” according to Vivek Wadhwa, technology entrepreneur and scholar. [7][16][18]
According to Arthur Chickering’s “Seven Vectors” student development theory, “developing mature interpersonal relationships” is one of the seven stages students progress through as they attend college. Students ranked “interpersonal skills” as the most important skill used in their daily lives in a survey of 11,000 college students. [7][16][18]
Students live, go to classes, and socialize with other students from around the world and learn from professors with a variety of expertise. The community of people on a college campus means students are likely to make diverse friends and business connections and, potentially, find a partner and life-long friends. Access to a variety of people allows college students to learn about different cultures, religions, and personalities they may have not been exposed to in their hometowns, which broadens their knowledge and perspective.[106]
College students are also more civic-minded. According to the Bureau of Labor Statistics, 43 percent of college graduates did volunteer work, compared to 19 percent of high-school graduates and 27 percent of adults in general. They And, college graduates are more likely to vote, and even more likely to have donated blood in the past year (9 percent) than people with some college (6 percent), high-school graduates (4 percent), and people who did not complete high school (2 percent). [11][21][22][23][287]
Additionally, college graduates attract higher-paying employers to their communities. A 1 percent increase in college graduates in a community increases the wages of workers without a high-school diploma by 1.9 percent and the wages of high-school graduates by 1.6 percent. Plus, college graduates have lower poverty rates and lower rates of reliance on public services due to their lower unemployment rates. [21][28][29]
Pro 3: College graduates and their children are healthier and live longer.
About 83 percent of college graduates reported being in excellent health, while 73 percent of high-school graduates reported the same. A University of Southern California study found that adults over 65 with college degrees spent more years with “good cognition” and fewer years suffering from dementia than adults who did not complete high school. Another study found that 20 percent of all adults were smokers, while only 9 percent of college graduates were smokers. 63 percent of 25–34-year-old college graduates reported exercising vigorously at least once a week, compared to 37 percent of high-school graduates.
College degrees were linked to lower blood pressure in a 30-year peer-reviewed study and lower levels of cortisol (the stress hormone) by a Carnegie Mellon Psychology department study. Furthermore, only 23 percent of college graduates aged 35–44 years old were obese, compared to 37 percent of high-school graduates. College graduates, on average, live six years longer than high-school graduates. [11][15][19][20][120]
Plus, college graduates have had lower infant mortality rates than high-school graduates. Pregnant women with only a high-school education were 31 percent more likely to give birth to a low-birth-weight baby than one with a college degree. Children aged two to five years old in households headed by college graduates have a 6 percent obesity rate, compared to 14 percent for children in households headed by high-school graduates. 18 percent more children aged three to five years old with mothers who have a bachelor’s degree could recognize all letters compared to children of high-school graduates. About 59 percent of children in elementary and middle school with at least one college graduate for a parent participated in after-school activities like sports, arts, and scouting, compared to 27 percent for high-school graduate parents. [11][15]
Pro 4: College exposes young adults to a variety of diverse people and ideas.
“Diverse environments can help people develop empathy, build meaningful relationships, expand their worldviews, and become more innovative through collaboration,” summarized Purdue Global. [284]
A 2024 study of 24,000 British people found that those with a diverse social network were more likely to have “higher levels of social cohesion” (being connected and feeling like you belong) in their communities and reported higher levels of personal well-being. "While interacting with people with the same characteristics may offer a sense of familiarity and comfort, our study suggests that embracing diversity is crucial for fostering resilience and adaptability in an ever-changing world," noted study co-author Matt Bennett. [285]
As Kellogg School professor Nicole Stephens explained, “In a country that is highly segregated, like the United States, universities are one of the few places where people have the chance to have meaningful and substantive interactions across the lines of social class.” When diverse groups of college students interact, the students had higher GPAs and a greater sense of belonging. [286]
While we think of “diversity” as race, gender, sexuality, and other personal markers, diversity, called the “gold standard of bias reduction” by Stephens, can just as easily apply to ideas. “Higher education is not just about imparting academic knowledge; it’s about learning how to engage with that knowledge critically. The exposure to diverse perspectives made possible by a diverse campus challenges students to question assumptions and prejudices, seek new information, and consider alternative viewpoints. This dynamic learning environment prepares students to tackle complex real-world challenges with a well-rounded and informed new perspective. It encourages them to become active learners who seek out diverse sources of information and engage in meaningful discussions concerning their studies and interpersonal relationships,” as Thaís Roberto of Keystone Education Group explained. [283][286]
People frequently live in areas of homogeneity—where everyone looks like each other, has a similar culture, and similar political backgrounds. College is a place for young adults to experience the diversity of the world, especially as technology and globalization increases interactions with diverse people.
Pro Quotes
Chris Muller, a personal finance expert, stated:
While the data clearly shows that college remains a smart investment for most students, your individual success will depend largely on making informed choices about your field of study, institution, and financing options. The good news? The benefits extend far beyond just a bigger paycheck, creating positive effects that can last throughout your career and life.
Remember: The key isn’t just getting any degree—it’s making strategic choices that align with both your career goals and financial reality. By using the resources and strategies outlined above, you can make more confident decisions about your educational investment.
Chris Muller, “New Research Reveals True Value of College Education,” forbes.com, Dec. 29, 2024
Marisol Cuellar Mejia, Cesar Alesi Perez, Vicki Hsieh, and Hans Johnson, all of the Public Policy Institute of California, stated:
“Higher education is a critical driver of economic progress. It is also the key policy lever for improving mobility from one generation to the next, especially for low-income, first-generation, Black, and Latino students. As the state’s economy has evolved, the job market has increasingly demanded more highly educated workers, a trend that is projected to continue into the future.
In addition to having higher earnings and better job benefits, college graduates are more likely to own a home and less likely to be in poverty or need social services. Society as a whole is also better off, thanks to lower unemployment, less demand for public assistance programs, lower incarceration rates, higher tax revenue, and greater civic engagement.”
—Marisol Cuellar Mejia et al., “Is College Worth It?,” ppic.org, Mar. 2023
Richard M. Schulze, founder and chair emeritus of Best Buy Co., Inc. and founder of the Richard M. Schulze Family Foundation, stated:
“The truth is it [college] remains a crucial driver of success. But we must empower our students with the skills to be innovators, creators and entrepreneurs. Entrepreneurship education empowers students to think creatively, to seek opportunities and solve problems, to empathize with others, to take risks, to accept failure as part of the growth process, and to help take a passion or idea and turn it into a viable business. Learning to think and act like an entrepreneur emboldens students to take charge of their own destinies, and in doing so, it powers the American Dream. My success story [which includes no college education] is the kind of entrepreneurship story that people like to glamorize, but the reason those stories are popular is because they’re so unlikely. What we need right now aren’t idealized stories of success, but a reliable pathway for all bright young minds with the right ideas to make the most of their opportunities, and entrepreneurial education provides just that.”
—Richard M. Schulze, “Best Buy Founder: What Every US College Should Teach Their Students,” cnn.com, Mar. 6, 2022
Jim McCorkell, founder and CEO of College Possible, stated:
“The message that college is ‘no longer worth it’ is not only false but also dangerous for America’s low-income students …
On the whole, a college degree remains the surest bet for social and economic advancement. The economic returns of college are especially profound for low-income students, and yet they are far more susceptible to college avoidance than their more affluent peers, who are likely to go to college anyway.
Such views are hugely problematic for those of us hoping to improve economic mobility in the United States. Almost all the job and wage growth now goes to people with some form of postsecondary education.”
—Jim McCorkell, “The Dangerous Message in Telling Low-Income Students to Skip College,” hechingerreport.org, June 4, 2019
Con Arguments
(Go to Pro Arguments)Con 1: College is no guarantee of a job or better life.
Many college graduates are employed in jobs that do not require college degrees. A staggering 52 percent of college graduates had jobs that did not require their degrees, and 75 percent remain in those jobs for a decade after graduation. [274]
“Having a bachelor’s used to be more rare and candidates with the degree could therefore be more choosy and were more expensive to hire. Today, that is no longer the case,” says Rita McGrath, associate professor at Columbia Business School. A high unemployment rate shifts the supply and demand to the employers’ favor and has made master’s degrees the “new bachelor’s degrees.” In short, too many students earning degrees has diluted the value of a bachelor’s degree.[68][69]
Plus, college degrees do not guarantee learning or job preparation. A 2023 survey of 800 business professionals found “63 percent saying that recent graduates frequently can’t handle their workload, 61 percent saying they are frequently late to work, 59 percent saying they often miss deadlines and assignments, 58 percent saying that they get offended too easily, 57 percent saying they lack professionalism, 53 percent saying they struggle with eye contact during interviews and 52 percent saying they have poor communication skills.” [275]
“I don’t think there’s anything wrong with college itself—college is the right choice for a lot of people. The problem is the attitude that if you want to be successful, you have to go to college—that it’s the golden ticket. We’ve all heard this song and dance through our already confusing high school years. It’s college or bust—college or driving an Uber for the rest of your life. Frankly, that’s the stupidest thing I’ve ever heard. I didn’t go to college, and guess what—I don’t drive for Uber. I have a beautiful family, a wildly rewarding life, and a business that just made the Inc. 5000 list for fastest-growing companies in the United States. So, yeah, college is not the only path to success,” explained CEO of Windy City Equipment Service Josh Zolin. [276]
Con 2: Student loan debt strains college graduates, their families, and society.
In spring 2024 there were more than 17.8 million college students in the United States, and borrowers owed $1.75 trillion in total student debt. [271]
Tuition has risen quicker than income, making college unaffordable for many and forcing students to take out loans. The average annual income for men increased 18 percent from 1971 to 2023 and 132 percent for women. However, the average annual tuition rates for public colleges increased about 129 percent in the same time and about 156 percent for private colleges, making college unaffordable for most average people.
A study found that 14 percent of community college students were homeless and 51 percent had housing insecurity issues (inability to pay rent or utilities, for example), while 33 percent experienced food insecurity (lack of access to or ability to pay for “nutritionally adequate and safe foods”), though 58 percent of the students were employed and 42 percent received federal Pell Grants. [111][112][113]
Furthermore, student loan debt often forces college graduates to live with their parents and delay marriage, financial independence, and other adult milestones, especially for millennials. In 2013, when the generations was in their late 20s to early 40s, only about 20 percent were homeowners, and most millennials said their student debt has delayed home ownership by seven years on average. Student loan borrowers delayed saving for retirement (41 percent), car purchases (40 percent), home purchases (29 percent), and marriage (15 percent). Fewer than 50 percent of women and 30 percent of men had passed the “transition to adulthood” milestones by age 30 (finishing school, moving out of their parents’ homes, being financially independent, marrying, and having children). By contrast, in 1960, 77 percent of women and 65 percent of men had completed these milestones by age 30. [38][39][121]
Student debt also overwhelms many seniors. Whether they cosigned for a child or grandchild’s education, or took out loans for their own educations, there were 7.2 million student loan borrowers aged 50 and over who collectively owed $400.3 billion. About 8 percent were more than 90 days delinquent in payments. A significant percentage of older borrowers in default were having a portion of their Social Security payments garnished by the U.S. government. [277][278]
Student loan debt may not be forgiven in bankruptcy and may not have the same borrower protections as other consumer debt. Medical, legal, credit card, loan, and even gambling debt can immediately be discharged in bankruptcy, but getting student loan debt discharged is much more difficult and rare. Private student loans often do not have the same protections as federal loans like income-based repayments, discharges upon death, or military deferments. [61][70][71]
Plus, student debt could cause a larger, more general financial crisis for the country. According to the National Association of Consumer Bankruptcy Attorneys, student loans are “beginning to have the same effect” on the economy that the housing bubble and crash created. Former Secretary of Education William Bennett agrees that the student loan debt crisis “is a vicious cycle of bad lending policies eerily similar to the causes of the subprime mortgage crisis.” An advisory council to the Federal Reserve also warned that the growth in student debt “has parallels to the housing crisis.”[61][62][63][64][65]
Con 3: Many people would be better served learning a trade or pursuing work right out of high school.
Trade professions are necessary for society to function, require less than four years of training, and often pay above average wages. The high number of young adults choosing college over learning a trade has created a “skills gap” in the U.S., and there is now a shortage of “middle-skill” trade workers like machinists, electricians, plumbers, and construction workers. One survey of U.S. manufacturers found that 67 percent reported a “moderate to severe shortage of talent.” According to the Bureau of Labor Statistics, “middle-skill” jobs made up 45 percent of projected job openings, but only 25 percent of the workforce had the skills to fill those jobs. [53][54][55]
Many people succeed without college degrees. According to the Bureau of Labor Statistics, of the 20 projected fastest growing jobs, seven do not require college degrees. Plus, the following successful people either never enrolled in college or never completed their college degrees: Richard Branson, founder and chair of the Virgin Group; Charles Culpepper, owner and CEO of Coca-Cola; Ellen DeGeneres, comedian and actress; Michael Dell, founder of Dell, Inc.; Walt Disney, Disney Corporation founder; Bill Gates, Microsoft founder; Steve Jobs, cofounder of Apple; Wolfgang Puck, chef and restaurateur; Steve Wozniak, cofounder of Apple; and Mark Zuckerberg, founder of Facebook. [43][44]
In fact, KIPP charter schools, which have long promoted “college starts in kindergarten,” have shifted focus to “broaden the celebration” of achievements after high school. KIPP joins the International Baccalaureate Organization and other that are rethinking college as a requirement for everyone. [289]
Con 4: College has become so politicized that it is no longer a place for unbiased curiosity and learning.
Whether conservative or liberal, “When universities become overtly political, and tilt too far toward one end of the spectrum, they’re denying students and faculty the kind of open-ended inquiry and knowledge-seeking that has long been the basis of American higher education’s success. They’re putting its future at risk,” said New York Times columnist Pamela Paul. [279]
Americans are simultaneously convinced that higher education is placing “too much concern [on] protecting students from views they might find offensive” and that “professors are bringing their political and social views into the classroom.” About 59 percent of American adults believe college politics lean toward one side. [280]
Students are also bringing their strong political viewpoints to campus. Students with liberal views are avoiding colleges in conservative states that have limited abortion access, higher rates of racial inequality, lower levels of LGBTQ protections, and a lack of gun control laws. And students with conservative views are avoiding colleges in states with legal abortion, laws protecting people of color and the LGBTQ community, and gun restrictions. Almost 30 percent of students from all political backgrounds were concerned about political opinions being silenced and “canceled” on college campuses. “Perhaps reflecting the drift toward broad political polarization in the U.S. (and elsewhere), we found that students’ gender, race, household income, or region of residence did not arise as statistically significant predictors marking student comfort levels around attending a school in a state they perceive as having an undesirable political landscape,” explain the authors of a Art & Science Group survey. [281]
This climate makes students quick to judge and slow to understand because they’re not taking the opportunity to learn from people of varying political, cultural, social, or economic backgrounds. Living and learning in a political bubble only feeds confirmation bias and makes for more fervent, less tolerant political beliefs.[282]
Instead, students need to experience the real world, where not everyone agrees but where most people don’t yell about their politics.
Con Quotes
Scott Galoway, author, podcast host, and entrepreneur, stated:
“The reality is if you get into an elite university, it’s still a really strong ROI [return on investment]. For most of the majors. The contacts, the credentialing, the certification still pays off even as high as the prices are.
What I think a lot of parents are figuring out is the quote-unquote non-prestige schools, quite frankly, just may not provide the return on investment. And also there’s just a certain type of individual who’s not cut out for college. Unfortunately, in the U.S., there’s a Zeitgeist in our society where if your kid doesn’t get a four-year degree, the kid and the parents have failed—not recognizing that two-thirds of our kids don’t end up with traditional four-year degrees.
As the ROI on college has gone down, the compensation for trades jobs has gone up. In the next ten years, there’s going to be five people who leave trades jobs and only two who enter the field. The prospects for many of these jobs that don’t require a college degree are increasing, and all of this adds up to a really interesting and overdue conversation around, Can we stop shaming ourselves if our kid decides not to go to college?”
Kevin T. Dugan, “Scott Galloway on Whether College Is Still Worth It,” nymag.com, Apr. 22, 2024
Steve Siebold, certified financial educator, states:
“You won’t find as many college students heading back to class this fall. That’s because enrollment is down nationwide, and rightfully so. There are 4 million fewer students in college now than there were 10 years ago. It’s certainly easy to blame things like the pandemic and a strong labor market, but I believe what it really comes down to is students just don’t want to endure hundreds of thousands of dollars of debt, and it’s hard to blame them….
Many years ago, it wasn’t even a question. If you wanted a good job you had to go to college. For most kids across America, it was as logical as saying if you want to prevent cavities you have to brush your teeth and floss. Now we are living in a different time and a very different world. In fact, as recently as the last two years, confidence in the value of education has been declining, and college enrollment has fallen by more than 1 million students since spring 2020.
There’s no doubt that saying you are a college graduate holds some level of prestige and is necessary for certain occupations. If you want to be a doctor or lawyer, for example, it’s not even a question. On the heels of a recession, however, most high school grads would be better off either entering the workforce immediately and gaining practical real-world experience (which can take you much further than a college education), attending a specialty school geared specifically toward what you want to do with your life, and if college is a must, then considering a more affordable option like doing two years at a community college.”
—Steve Siebold, “Steve Siebold: College Not Worth the Debt,” triblive.com, Aug. 16, 2022
Mike Rowe, television host of the shows Dirty Jobs and Somebody’s Gotta Do It, states:
“[W]hen we gave the big push for college back in the 70s, we did it at the expense of alternative education. In other words, we told people, ‘If you don’t get your degree, you’re gonna wind up turning a wrench.’
That attitude led to the remove of shop classes around the country. And the removal of shop classes completely obliterated from view the optical and visual proof of opportunity for a whole generation of kids. The skills gap today, in my opinion, is the result of the removal of shop class and the repeated message that the best path for the most people happens to be the most expensive path.
This is why, in my opinion, we have $1.6 million in student loans on the books, and 7.3 million open positions, most of which don’t require a four-year degree. We’re just disconnected. We’re rewarding behavior we should be discouraging, we’re lending money we don’t have to kids who are never going to be able to pay it back, to train them for jobs that don’t exist anymore. That’s nuts.”
—Fox Business Live, “ ‘Dirty Jobs’ Star Mike Rowe Says America’s Workforce Is ‘Disconnected’ ” video.foxbusiness.com, Nov. 7, 2019
Tim Knight, hedge fund manager and author, states:
“Some of you know that I graduated from college rather swiftly (in just 2 1/2 years)….The information I garnered during those 2 1/2 years hasn’t been useful to me even once during the many years since I graduated, and there isn’t a single contact I made in college that was beneficial to me in any way at all. Simply stated, I could have gone straight from high school to work without any difference.”
—Tim Knight, “Is College Worth It?,” ZeroHedge, Mar. 7, 2017
Top Wealthiest Americans With and Without College Degrees
(rankings from 2024 Forbes Top 400)
The cumulative wealth of the top ten wealthiest Americans with College Degrees is about $1.5 trillion.
The cumulative wealth of the top ten wealthiest Americans without College Degrees is about $701.3 billion.
The cumulative wealth of the top ten billionaires with college degrees is 114 percent more than the cumulative earnings of those without college degrees.
With college degrees | Without college degrees | |
---|---|---|
Source: Edited by Rob LaFranco and Chase Peterson-Withorn, “The Forbes 400: The Definitive Ranking of The Wealthiest Americans in 2024,” forbes.com (accessed January 13, 2025) | ||
1. | Elon Musk B.A. in physics B.A. in economics University of Pennsylvania Worth $244 billion via Tesla, SpaceX, and other companies 2024 Forbes rank #1 | Mark Zuckerberg Dropped out Harvard University Worth $181 billion via Meta 2024 Forbes rank #3 |
2. | Jeff Bezos B.A. in science Princeton University Worth $197 billion via Amazon 2024 Forbes rank #2 | Larry Ellison Dropped out University of Chicago University of Illinois Urbana-Champaign Worth $175 billion via Oracle and other software 2024 Forbes rank #4 |
3. | Warren Buffett M.S. in economics Columbia Business School Worth $150 billion via Berkshire Hathaway 2024 Forbes rank #5 | Bill Gates Dropped out Harvard University Worth $107 billion via Microsoft 2024 Forbes rank #9 |
4. | Larry Page M.S. in computer science Stanford University Worth $136 billion via Google 2024 Forbes rank #6 | Michael Dell Dropped out University of Texas at Austin Worth $101 billion via Dell 2024 Forbes rank #12 |
5. | Sergey Brin M.S. in computer science Stanford University Worth $130 billion via Google 2024 Forbes rank #7 | Thomas Peterffy Dropped out New York University Worth $40 billion via Interactive Brokers 2024 Forbes rank #23 |
6. | Steve Ballmer B.A. in applied mathematics and economics Harvard University Worth $123 billion via Microsoft 2024 Forbes rank #8 | Diane Hendricks Did not attend college Worth $21.9 billion via ABC Supplies 2024 Forbes rank #38 |
7. | Michael Bloomberg M.B.A. Harvard Business School Worth $105 billion via Bloomberg LP 2024 Forbes Rank #10 | Christy Walton Did not attend college Worth $16.4 billion via Walmart 2024 Forbes rank #48 |
8. | Jensen Huang B.S. in engineering Oregon State University M.S. in engineering Stanford University Worth $104 billion via Nvidia 2024 Forbes rank # 11 | Jan Koum Dropped out San Jose State University Worth $16.1 billion via WhatsApp 2024 Forbes rank #49 |
9. | Jim Walton B.A. in science University of Arkansas Worth $95.9 billion via Walmart 2022 Forbes rank #13 | Eric Smidt Did not attend college Worth $15.6 billion via Harbor Freight Tools 2024 Forbes rank #50 |
10. | Rob Walton J.D. Columbia University Worth $94.3 billion via Walmart 2024 Forbes rank #14 | Dustin Moskovitz Dropped out Harvard University Worth $14.3 billion via Facebook and Asana 2024 Forbes rank #55 |
10. | Alice Walton B.A./B.S. in science Trinity University Worth $89.2 billion via Walmart 2024 Forbes rank #15 | Ernest Garcia, II Dropped out University of Arizona Worth $13 billion via Carvana 2024 Forbes rank #67 |
(*Several families appear as collective units on the Forbes 400 list. Because the wealth is split among multiple people and this list is about individual wealth as related to college degrees, we have not included the families on this list.)
College Educations of U.S. Presidents
Of the 45 U.S. presidents, 32 had college degrees and 13 did not. Eight presidents did not attend college, five attended college but did not earn a degree, 21 graduated college with undergraduate degrees only, and 11 earned graduate degrees.
President | Dates in office | College education | |
---|---|---|---|
1. | George Washington[150][193][236] | Apr. 30, 1789–Mar. 4, 1797 | Surveyor’s certificate from the College of William & Mary |
2. | John Adams[161][204][247] | Mar. 4, 1797–Mar. 4, 1801 | A.B., Harvard College, 1755 A.M., Harvard College, 1758 |
3. | Thomas Jefferson[172][215][259] | Mar. 4, 1801–Mar. 4, 1809 | Attended College of William & Mary, Mar. 25, 1760–Apr. 1762 |
4. | James Madison[158][201][259] | Mar. 4, 1809–Mar. 4, 1817 | B.A., College of New Jersey (Princeton University), 1771 |
5. | James Monroe[159][202][245] | Mar. 4, 1817–Mar. 4, 1825 | Attended College of William & Mary, 1774–75 |
6. | John Quincy Adams[163][206][249] | Mar. 4, 1825–Mar. 4, 1829 | A.B., Harvard College, 1787 AM, Harvard College, 1790 Attended Leiden University |
7. | Andrew Jackson[137][181][224] | Mar. 4, 1829–Mar. 4, 1837 | No college education |
8. | Martin Van Buren[166][209][253] | Mar. 4, 1837–Mar. 4, 1841 | No college education |
9. | William Henry Harrison[175][218][262] | Mar. 4, 1841–Apr. 4, 1841 | Attended Presbyterian Hampden-Sydney College, 1787–90 Attended University of Pennsylvania, 1790–91 |
10. | John Tyler[164][207][250] | Apr. 4, 1841–Mar. 4, 1845 | Graduated College of William and Mary, 1807 |
11. | James K. Polk[157][200][243] | Mar. 4, 1845–Mar. 4, 1848 | Graduated University of North Carolina, May 1818 |
12. | Zachary Taylor[179][222][166] | Mar. 4, 1849–July 9, 1859 | No college education |
13. | Millard Fillmore[167][210][254] | July 9, 1850–Mar. 4, 1853 | No college education |
14. | Franklin Pierce[147][190][233] | Mar. 4, 1853–Mar. 4, 1857 | Graduated Bowdoin College, 1824 Attended Northhampton Law School |
15. | James Buchanan[156][199][242] | Mar. 4, 1857–Mar. 4, 1861 | Graduated Dickinson College, Sep. 19, 1809 |
16. | Abraham Lincoln[136][180][223] | Mar. 4, 1861–Apr. 15, 1865 | No college education |
17. | Andrew Johnson[138][182][225] | Apr. 15, 1865–Mar. 4, 1869 | No college education |
18. | Ulysses S. Grant[173][216][260] | Mar. 4, 1868–Mar. 4, 1877 | Graduated U.S. Military Academy, West Point, 1843 |
19. | Rutherford B. Hayes[170][213][257] | Mar. 4, 1877–Mar. 4, 1881 | Graduated Kenyon College, 1842 LL.B., Harvard Law School, 1845 |
20. | James A. Garfield[155][198][241] | Mar. 4, 1881–Sep. 19, 1881 | Attended Western Reserve Eclectic Institute (Hiram College), 1851–54 Graduated Williams College, 1856 |
21. | Chester A. Arthur[143][187][230] | Sep. 19, 1881–Mar. 4, 1885 | Graduated Union College, 1848 Attended State and National Law College, 1853 |
22. | Grover Cleveland[152][195][238] | Mar. 4, 1884–Mar. 4, 1889 | No college education |
23. | Benjamin Harrison[140][184][227] | Ma4. 4, 1889–Mar. 4, 1893 | Graduated Miami University, 1852 |
24. | Grover Cleveland[152][195][238] | Mar. 4, 1893–Mar. 4, 1897 | No college education |
25. | William McKinley[177][220][264] | Mar. 4, 1897–Sep. 14, 1901 | Attended Allegheny College, 1860 Attended Albany Law School, 1866 |
26. | Theodore Roosevelt[171][214][258] | Sep. 14, 1901–Mar. 4, 1909 | A.B., Harvard University, 1880 Attended Columbia Law School (posthumous J.D. awarded in 2008, class of 1882) |
27. | William Howard Taft[176][219][263] | Mar. 4, 1909–Mar. 4, 1913 | Graduated Yale College, 1878 LL.B., Cincinnati Law School, 1880 |
28. | Woodrow Wilson[178][221][265] | Mar. 4, 1913–Mar. 4, 1921 | Attended Davidson College, 1873–74 Graduated Princeton University, 1879 Attended University of Virginia, 1881 Ph.D., history and political science, Johns Hopkins University, 1886 |
29. | Warren G. Harding[174][217][261] | Mar. 4, 1921–Aug. 2, 1923 | B.S., printing and newspaper trade, Ohio Central College, 1882 |
30. | Calvin Coolidge[142][186][229] | Aug. 2, 1923–Mar. 4, 1929 | Graduated Amherst College, 1895 |
31. | Herbert Hoover[154][197][240] | Mar. 4, 1929–Mar. 4, 1933 | Graduated, geology, Stanford University, 1895 |
32. | Franklin D. Roosevelt[146][189][232] | Mar. 4, 1933–Apr. 12, 1945 | A.B., history, Harvard University Attended Columbia Law School, 1904–07 (posthumous J.D. awarded in 2008, class of 1907) |
33. | Harry S. Truman[153][196][239] | Apr. 12, 1945–Jan. 20, 1953 | Attended Spalding’s Commercial College, 1901 Attended Kansas City Law School, 1923–25 |
34. | Dwight D. Eisenhower[145][188][231] | Jan. 20, 1953–Jan. 20, 1961 | Graduated U.S. Military Academy, West Point, 1915 |
35. | John F. Kennedy[162][205][248] | Jan. 20, 1961–Nov. 22, 1963 | B.S., international affairs, Harvard University, 1940 Attended Stanford Graduate School of Business, 1940 |
36. | Lyndon B. Johnson[165][208][252] | Nov. 22, 1963–Jan. 20, 1969 | B.S., Southwest Texas State Teachers’ College (Texas State University), 1930 |
Attended Georgetown University Law School, 1934 | |||
37. | Richard Nixon[168][211][255] | Jan. 20, 1969–Aug. 9, 1974 | Graduated Whittier College, 1934 J.D., Duke University Law School, 1937 |
38. | Gerald Ford[151][194][237] | Aug. 9, 1974–Jan. 20, 1977 | B.A., economics, University of Michigan, 1935 LL.B., Yale University, 1941 |
39. | Jimmy Carter[160][203][246] | Jan. 20, 1977–Jan. 20, 1981 | B.S., Naval Academy, 1946 Graduate work in reactor technology and nuclear physics, Union College |
40. | Ronald Reagan[169][212][256] | Jan. 20, 1981–Jan. 20, 1989 | B.A., economics and sociology, Eureka College, 1932 |
41. | George H.W. Bush[148][191][234] | Jan. 20, 1989–Jan. 20, 1993 | B.A., economics, Yale University, 1948 |
42. | Bill Clinton[141][185][228] | Jan. 20, 1993–Jan. 20, 2001 | B.S., foreign service, Georgetown University, 1968 Rhodes scholar, University of Oxford, 1968 J.D., Yale University, 1973 |
43. | George W. Bush[149][192][235] | Jan. 20, 2001–Jan. 20, 2009 | B.A., history, Yale University, 1968 M.B.A., Harvard Business School, 1975 |
44. | Barack Obama[139][183][226] | Jan. 20, 2009–Jan. 20, 2017 | attended Occidental College, 1979-1981 B.A., political science, Columbia University, 1983 J.D., Harvard Law School, 1991 |
45. | Donald Trump[144] | Jan. 20, 2017–Jan. 20, 2021 | Attended Fordham University, 1964–66 B.S., economics, Wharton School of the University of Pennsylvania, 1968 |
46. | Joe Biden[251] | Jan. 20, 2021–Jan. 20, 2025 | B.A., history and political science, University of Delaware, 1965 J.D., Syracuse University, 1968 |
47. | Donald Trump[144] | Jan. 20, 2025–Jan. 20, 2029 | Attended Fordham University, 1964–66 B.S., economics, Wharton School of the University of Pennsylvania, 1968 |
Highest and Lowest Tuitions of Ranked U.S. Colleges and Universities
U.S. News & World Report ranks colleges annually. Below are the colleges and universities with the highest and lowest tuitions among those ranked in the 2022–23 list. Note that U.S. News & World Report ranks colleges and universities in several separate lists (national universities, national liberal arts colleges, etc.), and we have indicated on which list the school is ranked below.
Top Ten Highest Tuitions among U.S. News & World Report-ranked Schools
Tuition and Fees | College/University | U.S. News & World Report rank |
---|---|---|
Source: U.S. News & World Report, “Search U.S. News Best Colleges,” usnews.com (accessed January 13, 2025) | ||
$71,647 | University of Southern California | #27 in National Universities |
$71,312 | Brown University | #13 in National Universities |
$71,030 | Vassar College | #12 in National Liberal Arts Colleges |
$70,794 | Franklin & Marshall College | #31 in National Liberal Arts Colleges |
$70,770 | Trinity College | #36 in National Liberal Arts Colleges |
$70,704 | Tufts University | #37 in National Universities |
$70,702 | Boston College | #37 in National Universities |
$70,480 | Amherst College | #2 in National Liberal Arts Colleges |
$70,398 | Haverford College | #24 in National Liberal Arts Colleges |
$70,306 | Colgate University | #22 in National Liberal Arts Colleges |
Top Ten Lowest Tuitions among U.S. News & World Report-ranked Schools
Tuition/Fees | College/University | U.S. News & World Report rank |
---|---|---|
Source: U.S. News & World Report, “Search U.S. News Best Colleges,” usnews.com (accessed January 13, 2025) | ||
$726 | Berea College | #40 in National Liberal Arts Colleges |
$2,505 | University of Holy Cross | #101 in Regional Universities South |
$6,688 | Brigham Young University | #109 in National Universities |
$7,519 | Louisiana State University, Shreveport | #95 in Regional Universities South |
$7,584 (out-of-state) $3,584 (in-state) | Fayetteville State University | #62 in Regional Universities South |
$7,648 (out-of-state) $3,648 (in-state) | University of North Carolina, Pembroke | #41 in Regional Universities South |
$7,923 | Wayne State College | #96 in Regional Universities Midwest |
$8,492 | Mississippi University for Women | #34 in Regional Universities South |
$8,605 | Delta State University | #51inRegional Universities South |
$8,630 (out-of-state) $4,630 (in-state) | Western Carolina University | #231 in National Universities |
Median Incomes vs. Average College Tuition Rates
A frequent argument both for and against college is future earnings of college graduates versus the potential income lost while at college. Below are median annual incomes for men and women as compared to average annual tuitions from 1971–2024. In terms of academic years (fall/spring), the year in the table corresponds to the fall term (i.e., 2024 is the 2024–25 school year).
Median annual income (2023 dollars) | Average annual tuition, room and board, and fees (2024 dollars) | |||
---|---|---|---|---|
Year | Men | Women | At a four-year private nonprofit college or university | At a four-year public nonprofit college or university |
Sources: College Board, “Trends in College Pricing,” research.collegeboard.org, October 2024 U.S. Census Bureau, “Historical Income Tables: People,” census.gov, December 3, 2024 | ||||
2024 | -- | -- | $58,600 | $24,920 |
2023 | 51,350 | 35,410 | $58,130 | $24,820 |
2022 | 50,380 | 34,090 | $57,930 | $25,010 |
2021 | 51,420 | 34,640 | $59,920 | $26,320 |
2020 | 49,950 | 34,410 | $61,390 | $27,050 |
2019 | 52,380 | 34,760 | $61,270 | $26,970 |
2018 | 49,920 | 32,480 | $60,410 | $26,770 |
2017 | 49,430 | 31,690 | $60,230 | $26,640 |
2016 | 48,400 | 31,000 | $59,350 | $26,370 |
2015 | 46,660 | 29,860 | $58,150 | $25,940 |
2014 | 45,570 | 27,920 | $56,330 | $25,120 |
2013 | 44,850 | 28,170 | $55,230 | $24,780 |
2012 | 43,690 | 27,730 | $53,970 | $24,380 |
2011 | 43,330 | 27,720 | $53,020 | $23,960 |
2010 | 43,620 | 28,140 | $52,540 | $23,310 |
2009 | 44,180 | 28,770 | $51,350 | $22,310 |
2008 | 45,340 | 28,530 | $49,310 | $20,970 |
2007 | 47,060 | 29,660 | $48,460 | $20,540 |
2006 | 46,910 | 29,100 | $47,520 | $20,010 |
2005 | 46,790 | 27,790 | $46,230 | $19,490 |
2004 | 46,980 | 27,200 | $45,680 | $18,920 |
2003 | 47,230 | 27,230 | $44,490 | $17,980 |
2002 | 47,100 | 27,080 | $43,430 | $16,880 |
2001 | 47,460 | 27,100 | $42,320 | $16,020 |
2000 | 47,270 | 26,810 | $40,570 | $15,400 |
1999 | 47,080 | 26,400 | $40,500 | $15,230 |
1998 | 46,650 | 25,410 | $39,430 | $14,970 |
1997 | 45,000 | 24,460 | $37,890 | $14,620 |
1996 | 43,450 | 23,360 | $36,760 | $14,290 |
1995 | 42,220 | 22,700 | $35,820 | $13,890 |
1994 | 41,610 | 21,960 | $34,970 | $14,030 |
1993 | 41,310 | 21,620 | $34,350 | $13,500 |
1992 | 41,030 | 21,490 | $33,650 | $13,050 |
1991 | 42,100 | 21,550 | $32,730 | $12,570 |
1990 | 43,260 | 21,470 | $32,400 | $12,190 |
1989 | 44,470 | 21,510 | $31,820 | $11,960 |
1988 | 44,120 | 20,730 | $30,960 | $11,840 |
1987 | 43,040 | 20,070 | $28,920 | $11,610 |
1986 | 42,810 | 19,040 | $28,230 | $11,610 |
1985 | 41,470 | 18,350 | $25,980 | $11,270 |
1984 | 41,010 | 18,060 | $25,550 | $11,130 |
1983 | 40,080 | 17,310 | $24,470 | $10,820 |
1982 | 39,810 | 16,800 | $23,210 | $10,420 |
1981 | 40,780 | 16,520 | $21,870 | $9,920 |
1980 | 41,550 | 16,310 | $21,310 | $9,720 |
1979 | 43,370 | 16,020 | $21,680 | $10,080 |
1978 | 44,080 | 16,400 | $22,210 | $10,360 |
1977 | 43,590 | 16,970 | $21,980 | $10,570 |
1976 | 43,220 | 16,400 | $21,970 | $10,710 |
1975 | 42,900 | 16,400 | $21,490 | $10,390 |
1974 | 44,370 | 16,180 | $21,790 | $10,510 |
1973 | 46,450 | 16,120 | $22,780 | $11,320 |
1972 | 45,580 | 15,900 | $23,220 | $11,650 |
1971 | 43,650 | 15,230 | $22,730 | $10,940 |
Student Loan Debt Compared to Other Household Debt
American student loan debt rose from $350 billion to $1.61 trillion between 2004 and 2024. Student loan debt was the second-highest household debt from 2010 through 2022, surpassed only by housing loans. However, in 2023 and 2024, auto loan debt exceeded student loan debt.
Year | Student loans | Other debt | Credit cards | Auto loans | Housing loans |
---|---|---|---|---|---|
Source: Federal Reserve Bank of New York, Center for Microeconomic Data, “Household Debt and Credit Reports,” newyorkfed.org, 2024 | |||||
2024 | $1.61 | $0.55 | $1.17 | $1.64 | $12.98 |
2023 | $1.6 | $0.55 | $1.13 | $1.61 | $12.61 |
2022 | $1.6 | $0.51 | $0.99 | $1.55 | $12.26 |
2021 | $1.58 | $0.44 | $0.86 | $1.46 | $11.25 |
2020 | $1.55 | $0.42 | $0.82 | $1.37 | $10.39 |
2019 | $1.51 | $0.43 | $0.93 | $1.33 | $9.95 |
2018 | $1.46 | $0.41 | $0.87 | $1.27 | $9.54 |
2017 | $1.38 | $0.39 | $0.83 | $1.22 | $9.33 |
2016 | $1.31 | $0.38 | $0.78 | $1.16 | $8.95 |
2015 | $1.23 | $0.35 | $0.73 | $1.06 | $8.74 |
2014 | $1.16 | $0.34 | $0.70 | $0.95 | $8.68 |
2013 | $1.08 | $0.32 | $0.68 | $0.86 | $8.58 |
2012 | $0.97 | $0.32 | $0.68 | $0.78 | $8.60 |
2011 | $0.87 | $0.33 | $0.70 | $0.73 | $8.90 |
2010 | $0.81 | $0.34 | $0.73 | $0.71 | $9.12 |
2009 | $0.72 | $0.38 | $0.80 | $0.72 | $9.55 |
2008 | $0.64 | $0.41 | $0.87 | $0.79 | $9.96 |
2007 | $0.55 | $0.42 | $0.84 | $0.81 | $9.75 |
2006 | $0.48 | $0.41 | $0.77 | $0.82 | $8.84 |
2005 | $0.39 | $0.42 | $0.74 | $0.79 | $7.67 |
2004 | $0.35 | $0.42 | $0.72 | $0.73 | $6.83 |
Highest-paying Jobs and Fastest Growing Jobs
All but one of the top 20 highest paying jobs in 2021 required a doctorate or professional degree (such as an M.D. or RN), while only one of the fastest growing jobs required such a degree.
Conversely, two of the 27 fastest growing jobs required licensing or no degree, 12 required a high-school diploma (or GED) or no formal education, 11 required a bachelor’s or associate’s degree, and one required a master’s degree. 5 percent was the average rate of job growth.
Top 20 Highest-paying Jobs
All of the top 20 highest paying jobs require doctoral or professional degrees.
Job | Annual median pay |
---|---|
Bureau of Labor Statistics, “Occupational Outlook Handbook: Highest Paying Occupations,” bls.gov, August 29, 2024 | |
Anesthesiologists | $239,200 |
Orthodontists | $239,200 |
Oral and maxillofacial surgeons | $239,200 |
Surgeons, all other | $239,200 |
Pediatric surgeons | $239,200 |
Orthopedic surgeons, except pediatric | $239,200 |
Ophthalmologists, except pediatric | $239,200 |
Radiologists | $239,200 |
Psychiatrists | $239,200 |
Physicians, pathologists | $239,200 |
Obstetricians and gynecologists | $239,200 |
Neurologists | $239,200 |
Emergency medicine physicians | $239,200 |
Dermatologists | $239,200 |
Cardiologists | $239,200 |
Physicians, all other | $236,000 |
Prosthodontists | $234,000 |
Dentists, all other specialists | $227,690 |
Family medicine physicians | $224,640 |
General internal medicine physicians | $223,310 |
Top 20 Jobs with “Much Faster Than Average” Growth
Job | Annual median pay | Entry-level degree required |
---|---|---|
Source: Bureau of Labor Statistics, “Occupational Outlook Handbook: Occupation Finder,” bls.gov, August 29, 2024 | ||
Animal caretakers | Less than $37,500 | High school diploma or equivalent |
Bartenders | Less than $37,500 | No formal educational credential |
Computer and information systems managers | $100,000 or more | Bachelor’s degree |
Computer occupations, all other | $100,000 or more | Bachelor’s degree |
Computer systems analysts | $100,000 or more | Bachelor’s degree |
Cooks, restaurant | Less than $37,500 | No formal educational credential |
Data scientists | $100,000 or more | Bachelor’s degree |
Electricians | $50,000 to $74,999 | High school diploma or equivalent |
Financial managers | $100,000 or more | Bachelor’s degree |
Health specialties teachers, postsecondary | $100,000 or more | Doctoral or professional degree |
Home health and personal care aides | Less than $37,500 | High school diploma or equivalent |
Industrial machinery mechanics | $50,000 to $74,999 | High school diploma or equivalent |
Information security analysts | $100,000 or more | Bachelor’s degree |
Light truck drivers | $37,500 to $49,999 | High school diploma or equivalent |
Management analysts | $75,000 to $99,999 | Bachelor’s degree |
Medical and health services managers | $100,000 or more | Bachelor’s degree |
Medical assistants | $37,500 to $49,999 | Postsecondary nondegree award |
Nurse practitioners | $100,000 or more | Master’s degree |
Personal financial advisors | $75,000 to $99,999 | Bachelor’s degree |
Software developers | $100,000 or more | Bachelor’s degree |
Discussion Questions
- Is a college education worth it? Consider various ideas of worth, including financial, educational, political, and social. Explain your answers.
- Should college be tuition-free? Why or why not?
- Should college be more accessible to everyone? Consider various avenues of accessibility, including financial, educational, political, and social. Explain your answers.
Take Action
- Consider “America’s Top Colleges” at Forbes.
- Explore the College Scorecard at the U.S. Department of Education.
- Analyze the Occupational Outlook Handbook at the Bureau of Labor Statistics.
- Consider how you felt about the issue before reading this article. After reading the pros and cons on this topic, has your thinking changed? If so, how? List two to three ways. If your thoughts have not changed, list two to three ways your better understanding of the “other side of the issue” now helps you better argue your position.
- Push for the position and policies you support by writing U.S. senators and representatives.
Sources
- U.S. Census Bureau, “After a Recent Upswing, College Enrollment Declines, Census Bureau Reports,” census.gov, Sep. 3, 2013
- Marvin Lazerson, “The Disappointments of Success: Higher Education after World War II,” The History of Higher Education, Eds. Harold Wechsler, Lester F. Goodchild, and Linda Eisenmann, 2007
- John R. Thelin, A History of American Education, 2004
- Amanda M. Fairbanks, “2011 College Grads Moving Home, Saddled with Historic Levels of Student Loan Debt,” huffpost.com, May 13, 2011
- Richard Vedder, “Going to College Is a Mistake for Many,” usnews.com, Nov. 17, 2011
- Richard Vedder, “Twelve Inconvenient Truths about Higher Education,” theccap.org, Mar. 2012
- U.S. Department of Education, “Database of Accredited Programs and Institutions,” ed.gov, Aug. 16, 2013
- Michael Greenstone and Adam Looney, “Is Starting College and Not Finishing Really That Bad?,” thehamiltonproject.org, June 2013
- Michael Greenstone and Adam Looney, “Where Is the Best Place to Invest $102,000—In Stocks, Bonds, or a College Degree?,” hamiltonproject.org, June 25, 2011
- College Board, “Trends in College Pricing, 2011,” advocacy.collegeboard.org, 2011
- Sandy Baum, Jennifer Ma, and Kathleen Pays, “Education Pays 2010: The Benefits of Higher Education for Individuals and Society,” collegeboard.com, 2010
- Christian Yang, “DON’T Drop out to Do a Startup,” blogchristianyang.com, Jan. 2, 2013
- Lumina Foundation, “A Stronger Nation through Higher Education,” luminafoundation.org, June 2013
- Anthony P. Carnevale, Nicole Smith, and Jeff Strohl, “Help Wanted: Projections of Jobs and Education Requirements through 2018,” georgetown.edu, June 2010
- Marcelina Hardy, “7 Benefits of Earning a College Degree,” education.yahoo.net, 2013
- Arthur Chickering, “The Seven Vectors: An Overview,” cabrini.edu (accessed Sep. 5, 2013)
- Cooperative Institutional Research Program, “1994 Nine Year Follow-Up Survey (of 1985 Freshmen),” Higher Education Research Institute at UCLA, 1995
- 60 Minutes, “Partying and Its Benefits,” cbsnews.com, May 20, 2012
- Robert A. Hummer and Elaine M. Hernandez, “The Effect of Educational Attainment on Adult Mortality in the U.S.,” prb.org, July 2013
- Brian L. Rostron, John L. Boies, and Elizabeth Arias, “Education Reporting and Classification on Death Certificates in the United States,” Vital and Health Statistics, cdc.gov, May 2010
- Sandy Baum and Jennifer Ma, “Education Pays 2007: The Benefits of Higher Education for Individuals and Society,” collegeboard.com, 2007
- Intelligence Squared US, “Too Many Kids Go to College,” intelligencesquaredus.org, Oct. 12, 2011
- Andrew Sum, et al, “The Consequences of Dropping Out of High School: Joblessness and Jailing for High School Dropouts and the High Cost for Taxpayers,” americaspromise.org, Oct. 2009
- Rebecca Mead, “Learning by Degrees,” newyorker.com, June 7, 2010
- Pew Research, “Is College Worth It?,” pewsocialtrends.org, May 15, 2011
- Jonathan D. Fitzgerald, “The Real Value of a College Education,” huffpost.com, Feb. 23, 2012
- Indiana University at Bloomington, “Internship Experiences of IUB Psychology Majors – 50+ Examples,” indiana.edu (accessed Sep. 26, 2013)
- Clive R. Belfield, Henry M. Levin, and Rachel Rosen, “The Economic Value of Opportunity Youth,” serve.gov, Jan. 2012
- Derek Thompson, “What’s More Expensive Than College? Not Going to College,” theatlantic.com, Mar. 27, 2012
- Harvard Business School, “Networking,” alumni.hbs.edu (accessed Sep. 5, 2013)
- Whitman College, “Networking,” whitman.edu (accessed Sep. 26, 2013)
- Dylan Matthews, “Going to College Is Worth It – Even if You Drop out,” washingtonpost.com, June 10, 2013
- College Board, “Average Published Undergraduate Charges by Sector, 2012-13,” trends.collegeboard.org, 2013
- Darrius Mind, “Best Day of My Life,” darriusmind.blogspot.com, May 4, 2009
- Meta Brown and Sydnee Caldwell, “Young Student Loan Borrowers Retreat from Housing and Auto Markets,” libertystreeteconomics.newyorkfed.org, Apr. 17, 2013
- Chris Denhart, “How the $1.2 Trillion College Debt Crisis Is Crippling Students, Parents and the Economy,” forbes.com, Aug. 7, 2013
- U.S. Congress Joint Economic Committee, “The Causes and Consequences of Increasing Student Debt,” jes.senate.gov, June 2013
- Blake Ellis, “Student Debt Delays Spending, Saving – and Marriage,” money.cnn.com, May 9, 2013
- Robin Marantz Henig, “What Is It about 20-Somethings?,” nytimes.com, Aug, 18, 2010
- Andrew Sum, “The Nation’s Recent College Graduates Face Significant Labor Market Problems,” huffpost.com, Oct. 19, 2010
- Heidi Shierholz, Natalie Sabadish, and Nicholas Finio, “The Class of 2013: Young Graduates Still Face Dim Job Prospects,” epi.org, Apr. 10, 2013
- Jordan Weissmann, “44 percent of Young College Grads Are Underemployed (and That’s Good News),” theatlantic.com, June 28, 2013
- Bureau of Labor Statistics, “Fastest Growing Occupations, 2010 and Projected 2020,” bls.gov, Jan. 2012
- Glen Stansberry, “12 Business Founders Who Succeeded without a College Degree,” openforum.com, Oct. 8, 2010
- Mark Schneider, “Colleges Waste Millions on Students Who Drop Out,” aei-ideas.org, Aug. 19, 2010
- Harvard Graduate School of Education, “Pathways to Prosperity,” harvard.edu, Feb. 2011
- National Conference of State Legislatures, “Reconsider Funding for Colleges and Universities,” ncsl.org, Nov. 2010
- New America Foundation, “Federal Higher Education Programs – Overview,” febp.newamerica.net, July 10, 2013
- State Higher Education Executive Officers, “State Higher Education Finance,” sheeo.org, 2012
- Mark Schneider and Lu (Michelle) Yin, “The High Cost of Low Graduation Rates: How Much Does Dropping Out of College Really Cost?,” air.org, Aug. 2011
- Federal Reserve Bank of New York, “Student Loan Debt by Age Group,” newyorkfed.org, Mar. 29, 2013
- Tamar Lewin, “Child’s Education, but Parents’ Crushing Loans,” nytimes.com, Nov. 11, 2012
- Deloitte and The Manufacturing Institute, “Boiling Point? The Skills Gap in U.S. Manufacturing,” themanufacturinginstitute.com, 2011
- Anthony P. Carnevale, Tamara Jayasundera, and Andrew R. Hanson, “Along the Way to the B.A.,” georgetown.edu, Sep. 2012
- Felix W. Ortiz, III, “The Middle-Skill Issue,” huffpost.com, Sep. 25, 2013
- Craig Brandon, “With College, Only the Motivated Need Apply,” usnews.com, Nov. 17, 2011
- NPR, “A Lack of Rigor Leaves Students ‘Adrift’ in College,” npr.org, Feb. 9, 2011
- Eric Gorski, “45 percent of Students Don’t Learn Much in College,” huffpost.com, Jan. 18, 2011
- Hart Research Associates, “It Takes More than a Major: Employer Priorities for College Learning and Student Success,” aacu.org, Apr. 10, 2013
- McKinsey & Company, “Voice of the Graduate,” mckinseyonsociety.com, May 2013
- Consumer Financial Protection Bureau, “Report: Private Student Loan Borrowers Face Roadblocks to Repayment,” consumerfinance.gov, Oct. 16, 2012
- National Association of Consumer Bankruptcy Attorneys, “The Student Loan ‘Debt Bomb’: America’s Next Mortgage-Style Economic Crisis,” nacba.org, Feb. 7, 2012
- William J. Bennett, “The Looming Crisis of Student Loan Debt,” cnn.com, Dec. 6, 2012
- Joshua Zumbrun and Craig Torres, “Bankers Warn Fed of Farm, Student Loan Bubbles Echoing Subprime,” businessweek.com, May 7, 2013
- Walter Hamilton, “Student-Loan Delinquency Rate Hits Danger Zone, Report Says,” latimes.com, Jan. 30, 2013
- Phil Oliff et al., “Recent Deep State Higher Education Cuts May Harm Students and the Economy for Years to Come,” cbpp.org, Mar. 19, 2013
- Phillip Elliott, “College Costs Keep Rising Faster Than Inflation,” csmonitor.com, Aug. 13, 2013
- Rebekah Coleman, “Bachelor’s Degree: Generation Y’s High School Diploma,” loans.org, Mar. 18, 2013
- Daniel B. Smith, “The University Has No Clothes,” nymag.com, May 1, 2011
- Steve Rhode, “4 out of 10 Actually Were Able to Discharge Student Loans in Bankruptcy—but Most Never Try,” huffpost.com, Jan. 7, 2013
- Joe Valenti and David A. Bergeron, “How Qualified Student Loans Could Protect Borrowers and Taxpayers,” americanprogress.org, Aug. 20, 2013
- William Hare, “Ideological Indoctrination and Teacher Education,” wce.wwu.edu, 2007
- Scott Jaschik, “Moving Further to the Left,” insidehighered.com, Oct. 24, 2012
- David Horowitz, The Professors: The 101 Most Dangerous Academics in America, 2007
- John H. Pryor et al., “The American Freshman: National Norms Fall 2012,” heri.ucla.edu, 2012
- University of Florida Counseling & Wellness Center, “Stress and College Students,” counseling.ufl.edu (accessed Sep. 4, 2013)
- Harmony Wheeler, “UCLA Study Explores Cause and Effect of College Stress,” chimes.biola.edu, Feb. 16, 2011
- President & Fellows of Harvard College, “About Harvard College,” college.harvard.edu (accessed Sep. 27, 2013)
- College of William & Mary, “History & Traditions,” wm.edu (accessed Sep. 27, 2013)
- Yale University, “History,” yale.edu (accessed Sep. 27, 2013)
- Trustees of Princeton University, “Princeton’s History,” princeton.edu (accessed Sep. 27, 2013)
- Columbia University, “History,” columbia.edu (accessed Sep. 27, 2013)
- Brown University, “History,” brown.edu (accessed Sep. 27, 2013)
- Trustees of Dartmouth College, “Dartmouth at a Glance,” dartmouth.edu (accessed Sep. 27, 2013)
- Rutgers, the State University of New Jersey, “Rutgers History,” rutgers.edu (accessed Sep. 27, 2013)
- University of Pennsylvania, “Penn’s Heritage,” upenn.edu (accessed Sep. 27, 2013)
- Harold Perkin, “History of Universities,” The History of Higher Education, Eds. Harold Wechsler, Lester F. Goodchild, and Linda Eisenmann, 2007
- Yale University, Catalogue of the Officers and Graduates of Yale University in New Haven, 1701-1910, Jan. 1, 1910
- Massachusetts Institute of Technology, “MIT Highlights Timeline,” mitstory.mit.edu (accessed Sep. 27, 2013)
- Lester F. Goodchild, “History of Higher Education in the United States,” The History of Higher Education, Eds. Harold Wechsler, Lester F. Goodchild, and Linda Eisenmann, 2007
- Douglas Sloan, “Science, Society, and the Curriculum,” The History of Higher Education, Eds. Harold Wechsler, Lester F. Goodchild, and Linda Eisenmann, 2007
- Roger L. Geiger, “The Era of Multipurpose Colleges in American Higher Education, 1850-1890,” The History of Higher Education, Eds. Harold Wechsler, Lester F. Goodchild, and Linda Eisenmann, 2007
- National Science Foundation, “IPEDS Institutional Characteristics Survey Tuition Data,” nsf.gov (accessed Aug. 20, 2013)
- Martin A. Trow, “American Higher Education: Past, Present, and Future,” The History of Higher Education, Eds. Harold Wechsler, Lester F. Goodchild, and Linda Eisenmann, 2007
- Title IX, “History of Title IX,” titleix.info (accessed Sep. 27, 2013)
- National Archives, “Affirmative Action: History and Rationale,” nara.gov (accessed Aug. 20, 2013)
- National Center for Education Statistics, “Fast Facts: Enrollment,” nces.ed.gov (accessed Sep. 27, 2013)
- National Center for Education Statistics, “Fast Facts: Tuition Costs of Colleges and Universities,” nces.ed.gov (accessed Sep. 27, 2013)
- National Center for Education Statistics, “Digest of Education Statistics,” nces.edu, June 1995
- Oberlin College and Conservatory, “History: Early History,” oberlin.edu (accessed Sep. 30, 2013)
- Anthony Carnevale and Nicole Smith, “Sharp Decline in Underemployment for College Graduates,” cew.georgetown.edu, Nov. 2015
- National Center for Education Statistics, “Fast Facts: Back to School Statistics,” nces.ed.gov (accessed Jan. 30, 2020)
- The Institute for College Access and Success, “Student Debt and the Class of 2014,” ticas.org, Oct. 2015
- Anthony P. Carnevale, Tamara Jayasundera, and Artem Gulish, “America’s Divided Recovery: College Haves and Have-Nots 2016,” cew.georgetown.edu, June 30, 2016
- Anthony P. Carnevale and Nicole Smith, “Trillion Dollar Infrastructure Proposals Could Create Millions of Jobs,” Georgetown University Center on Education and the Workforce, cew.georgetown.edu, 2017
- Kevin Eagan et al., “The American Freshman: Fifty-Year Trends, 1966-2015,” heri.ucla.edu, 2016
- Consumer Reports, “The Student Debt Crises: Lives on Hold,” Consumer Reports, June 28, 2016
- Josh Mitchell, “Student-Loan Defaults Rose by 1.1 Million in 2016,” wsj.com, Mar. 14, 2017
- U.S. Census Bureau, “Highest Educational Levels Reached by Adults in the U.S. since 1940,” census.gov, Mar. 30, 2017
- U.S. Census Bureau, “Educational Attainment in the United States, 2016,” census.gov, Mar. 2017
- Sara Goldrick-Rab, Jed Richardson, and Anthony Hernandez, “Hungry and Homeless in College,” wihopelab.com, Mar. 2017
- College Board, “Tuition and Fees and Room and Board over Time, 1976-77 to 2016-17, Selected Years,” collegeboard.org (accessed Apr. 10, 2017)
- Federal Reserve Bank of St. Louis, “Real Median Household Income in the United States,” fred.stlouisfed.org, Sep. 13, 2016
- Kirsten Gibson, “Parents Pull Back on Help Financing Their Children’s College Educations,” thinkprogress.org, July 23, 2013
- Sallie Mae, “How America Pays for College 2016,” salliemae.com, 2016
- Bureau of Labor Statistics, “The Employment Situation - December 2019,” bls.gov, Jan. 10, 2020
- National Center for Education Statistics, “Undergraduate Retention and Graduation Rates,” nces.ed.gov, Apr. 2017
- National Center for Education Statistics, “Fast Facts: Back to School Statistics,” nces.ed.gov (accessed June 6, 2016)
- The Institute for College Access and Success, “Student Debt and the Class of 2014,” ticas.org, Oct. 2015
- Grace Bird, “Study: College Education Can Delay Dementia,” insidehighered.com, Apr. 17, 2018
- National Association of Realtors, “Student Debt Delaying Millennial Homeownership by 7 Years,” nar.realtor.com, Sep. 18, 2017
- Timothy K. Bartik and Brad K. Hershbein, “Degrees of Poverty: The Relationship between Family Income Background and the Returns to Education,” research.upjohn.org, Mar. 2018
- Abigail Hess, “Here’s How Much the Average Student Loan Borrower Owes When They Graduate,” cnbc.com, Feb. 15, 2018
- National Center for Education Statistics, “Fast Facts: Back to School Statistics,” nces.ed.gov (accessed May 21, 2018)
- Board of Governors for the Federal Reserve System, “Consumer Credit Outstanding (Levels),” federalreserve.gov, May 7, 2018
- Erin Currier, “How Generation X Could Change the American Dream,” pewtrusts.org, Jan. 26, 2018
- Zack Friedman, “Student Loan Debt Statistics in 2019: A $1.5 Trillion Crisis,” forbes.com, Feb. 25, 2019
- Jaison R. Abel and Richard Deitz, “Despite Rising Costs, College Is Still a Good Investment,” libertystreeteconomics.newyorkfed.org, June 5, 2019
- Federal Reserve Bank of New York, “The Labor Market for Recent College Graduates,” newyorkfed.org, Nov. 1, 2019
- Elissa Nadworny, “ ‘Losing A Generation’: Fall College Enrollment Plummets for 1st-Year Students,” npr.org, Dec. 17, 2020
- Ann Carrns, “A Worrisome Drop in College Aid Applications,” nytimes.com, Dec. 18, 2020
- Anthony P. Carnevale, “When Back to School Meets Stay at Home,” medium.com, Jan. 13, 2021
- National Student Clearinghouse Research Center, “Overview: Spring 2023 Enrollment Estimates,” nscresearchcenter.org, Spring 2023
- Alicia Hahn, “2023 Student Loan Debt Statistics: Average Student Loan Debt, forbes.com, May 9, 2023
- Eliza Fawcett, “The Pandemic Generation Goes to College. It Has Not Been Easy.,” nytimes.com, June 20, 2023
- Biography.com, “Abraham Lincoln,” biography.com (accessed July 2, 2014)
- Biography.com, “Andrew Jackson,” biography.com (accessed July 2, 2014)
- Biography.com, “Andrew Johnson,” biography.com (accessed July 2, 2014)
- Biography.com, “Barack Obama,” biography.com (accessed July 2, 2014)
- Biography.com, “Benjamin Harrison,” biography.com (accessed July 2, 2014)
- Biography.com, “Bill Clinton,” biography.com (accessed July 2, 2014)
- Biography.com, “Calvin Coolidge,” biography.com (accessed July 2, 2014)
- Biography.com, “Chester A. Arthur,” biography.com (accessed July 2, 2014)
- Biography.com, “Donald Trump,” biography.com (accessed Nov. 30, 2016)
- Biography.com, “Dwight D. Eisenhower,” biography.com (accessed July 2, 2014)
- Biography.com, “Franklin D. Roosevelt,” biography.com (accessed July 2, 2014)
- Biography.com, “Franklin Pierce,” biography.com (accessed July 2, 2014)
- Biography.com, “George H. W. Bush,” biography.com (accessed July 2, 2014)
- Biography.com, “George W. Bush,” biography.com (accessed July 2, 2014)
- Biography.com, “George Washington,” biography.com (accessed July 2, 2014)
- Biography.com, “Gerald Ford,” biography.com (accessed July 2, 2014)
- Biography.com, “Grover Cleveland,” biography.com (accessed July 2, 2014)
- Biography.com, “Harry S. Truman,” biography.com (accessed July 2, 2014)
- Biography.com, “Herbert Hoover,” biography.com (accessed July 2, 2014)
- Biography.com, “James A. Garfield,” biography.com (accessed July 2, 2014)
- Biography.com, “James Buchanan,” biography.com (accessed July 2, 2014)
- Biography.com, “James Knox Polk,” biography.com (accessed July 2, 2014)
- Biography.com, “James Madison,” biography.com (accessed July 2, 2014)
- Biography.com, “James Monroe,” biography.com (accessed July 2, 2014)
- Biography.com, “Jimmy Carter,” biography.com (accessed July 2, 2014)
- Biography.com, “John Adams,” biography.com (accessed July 2, 2014)
- Biography.com, “John F. Kennedy,” biography.com (accessed July 2, 2014)
- Biography.com, “John Quincy Adams,” biography.com (accessed July 2, 2014)
- Biography.com, “John Tyler,” biography.com (accessed July 2, 2014)
- Biography.com, “Lyndon B. Johnson,” biography.com (accessed July 2, 2014)
- Biography.com, “Martin Van Buren,” biography.com (accessed July 2, 2014)
- Biography.com, “Millard Fillmore,” biography.com (accessed July 2, 2014)
- Biography.com, “Richard M. Nixon,” biography.com (accessed July 2, 2014)
- Biography.com, “Ronald Reagan,” biography.com (accessed July 2, 2014)
- Biography.com, “Rutherford B. Hayes,” biography.com (accessed July 2, 2014)
- Biography.com, “Theodore Roosevelt,” biography.com (accessed July 2, 2014)
- Biography.com, “Thomas Jefferson,” biography.com (accessed July 2, 2014)
- Biography.com, “Ulysses S. Grant,” biography.com (accessed July 2, 2014)
- Biography.com, “Warren G. Harding,” biography.com (accessed July 2, 2014)
- Biography.com, “William Henry Harrison,” biography.com (accessed July 2, 2014)
- Biography.com, “William Howard Taft,” biography.com (accessed July 2, 2014)
- Biography.com, “William McKinley,” biography.com (accessed July 2, 2014)
- Biography.com, “Woodrow Wilson,” biography.com (accessed July 2, 2014)
- Biography.com, “Zachary Taylor,” biography.com (accessed July 2, 2014)
- Miller Center at the University of Virginia, “Abraham Lincoln,” millercenter.org (accessed July 2, 2014)
- Miller Center at the University of Virginia, “Andrew Jackson,” millercenter.org (accessed July 2, 2014)
- Miller Center at the University of Virginia, “Andrew Johnson,” millercenter.org (accessed July 2, 2014)
- Miller Center at the University of Virginia, “Barack Obama,” millercenter.org (accessed July 2, 2014)
- Miller Center at the University of Virginia, “Benjamin Harrison,” millercenter.org (accessed July 2, 2014)
- Miller Center at the University of Virginia, “Bill Clinton,” millercenter.org (accessed July 2, 2014)
- Miller Center at the University of Virginia, “Calvin Coolidge,” millercenter.org (accessed July 2, 2014)
- Miller Center at the University of Virginia, “Chester A. Arthur,” millercenter.org (accessed July 2, 2014)
- Miller Center at the University of Virginia, “Dwight D. Eisenhower,” millercenter.org (accessed July 2, 2014)
- Miller Center at the University of Virginia, “Franklin D. Roosevelt,” millercenter.org (accessed July 2, 2014)
- Miller Center at the University of Virginia, “Franklin Pierce,” millercenter.org (accessed July 2, 2014)
- Miller Center at the University of Virginia, “George H. W. Bush,” millercenter.org (accessed July 2, 2014)
- Miller Center at the University of Virginia, “George W. Bush,” millercenter.org (accessed July 2, 2014)
- Miller Center at the University of Virginia, “George Washington,” millercenter.org (accessed July 2, 2014)
- Miller Center at the University of Virginia, “Gerald Ford,” millercenter.org (accessed July 2, 2014)
- Miller Center at the University of Virginia, “Grover Cleveland,” millercenter.org (accessed July 2, 2014)
- Miller Center at the University of Virginia, “Harry S. Truman,” millercenter.org (accessed July 2, 2014)
- Miller Center at the University of Virginia, “Herbert Hoover,” millercenter.org (accessed July 2, 2014)
- Miller Center at the University of Virginia, “James A. Garfield,” millercenter.org (accessed July 2, 2014)
- Miller Center at the University of Virginia, “James Buchanan,” millercenter.org (accessed July 2, 2014)
- Miller Center at the University of Virginia, “James Knox Polk,” millercenter.org (accessed July 2, 2014)
- Miller Center at the University of Virginia, “James Madison,” millercenter.org (accessed July 2, 2014)
- Miller Center at the University of Virginia, “James Monroe,” millercenter.org (accessed July 2, 2014)
- Miller Center at the University of Virginia, “Jimmy Carter,” millercenter.org (accessed July 2, 2014)
- Miller Center at the University of Virginia, “John Adams,” millercenter.org (accessed July 2, 2014)
- Miller Center at the University of Virginia, “John F. Kennedy,” millercenter.org (accessed July 2, 2014)
- Miller Center at the University of Virginia, “John Quincy Adams,” millercenter.org (accessed July 2, 2014)
- Miller Center at the University of Virginia, “John Tyler,” millercenter.org (accessed July 2, 2014)
- Miller Center at the University of Virginia, “Lyndon B. Johnson,” millercenter.org (accessed July 2, 2014)
- Miller Center at the University of Virginia, “Martin Van Buren,” millercenter.org (accessed July 2, 2014)
- Miller Center at the University of Virginia, “Millard Fillmore,” millercenter.org (accessed July 2, 2014)
- Miller Center at the University of Virginia, “Richard M. Nixon,” millercenter.org (accessed July 2, 2014)
- Miller Center at the University of Virginia, “Ronald Reagan,” millercenter.org (accessed July 2, 2014)
- Miller Center at the University of Virginia, “Rutherford B. Hayes,” millercenter.org (accessed July 2, 2014)
- Miller Center at the University of Virginia, “Theodore Roosevelt,” millercenter.org (accessed July 2, 2014)
- Miller Center at the University of Virginia, “Thomas Jefferson,” millercenter.org (accessed July 2, 2014)
- Miller Center at the University of Virginia, “Ulysses S. Grant,” millercenter.org (accessed July 2, 2014)
- Miller Center at the University of Virginia, “Warren G. Harding,” millercenter.org (accessed July 2, 2014)
- Miller Center at the University of Virginia, “William Henry Harrison,” millercenter.org (accessed July 2, 2014)
- Miller Center at the University of Virginia, “William Howard Taft,” millercenter.org (accessed July 2, 2014)
- Miller Center at the University of Virginia, “William McKinley,” millercenter.org (accessed July 2, 2014)
- Miller Center at the University of Virginia, “Woodrow Wilson,” millercenter.org (accessed July 2, 2014)
- Miller Center at the University of Virginia, “Zachary Taylor,” millercenter.org (accessed July 2, 2014)
- NNDB, “Abraham Lincoln,” nndb.com (accessed July 2, 2014)
- NNDB, “Andrew Jackson,” nndb.com (accessed July 2, 2014)
- NNDB, “Andrew Johnson,” nndb.com (accessed July 2, 2014)
- NNDB, “Barack Obama,” nndb.com (accessed July 2, 2014)
- NNDB, “Benjamin Harrison,” nndb.com (accessed July 2, 2014)
- NNDB, “Bill Clinton,” nndb.com (accessed July 2, 2014)
- NNDB, “Calvin Coolidge,” nndb.com (accessed July 2, 2014)
- NNDB, “Chester A. Arthur,” nndb.com (accessed July 2, 2014)
- NNDB, “Dwight D. Eisenhower,” nndb.com (accessed July 2, 2014)
- NNDB, “Franklin D. Roosevelt,” nndb.com (accessed July 2, 2014)
- NNDB, “Franklin Pierce,” nndb.com (accessed July 2, 2014)
- NNDB, “George H. W. Bush,” nndb.com (accessed July 2, 2014)
- NNDB, “George W. Bush,” nndb.com (accessed July 2, 2014)
- NNDB, “George Washington,” nndb.com (accessed July 2, 2014)
- NNDB, “Gerald Ford,” nndb.com (accessed July 2, 2014)
- NNDB, “Grover Cleveland,” nndb.com (accessed July 2, 2014)
- NNDB, “Harry S. Truman,” nndb.com (accessed July 2, 2014)
- NNDB, “Herbert Hoover,” nndb.com (accessed July 2, 2014)
- NNDB, “James A. Garfield,” nndb.com (accessed July 2, 2014)
- NNDB, “James Buchanan,” nndb.com (accessed July 2, 2014)
- NNDB, “James Knox Polk,” nndb.com (accessed July 2, 2014)
- NNDB, “James Madison,” nndb.com (accessed July 2, 2014)
- NNDB, “James Monroe,” nndb.com (accessed July 2, 2014)
- NNDB, “Jimmy Carter,” nndb.com (accessed July 2, 2014)
- NNDB, “John Adams,” nndb.com (accessed July 2, 2014)
- NNDB, “John F. Kennedy,” nndb.com (accessed July 2, 2014)
- NNDB, “John Quincy Adams,” nndb.com (accessed July 2, 2014)
- NNDB, “John Tyler,” nndb.com (accessed July 2, 2014)
- NNDB, “Joseph Biden,” nndb.com (accessed Mar. 31, 2021)
- NNDB, “Lyndon B. Johnson,” nndb.com (accessed July 2, 2014)
- NNDB, “Martin Van Buren,” nndb.com (accessed July 2, 2014)
- NNDB, “Millard Fillmore,” nndb.com (accessed July 2, 2014)
- NNDB, “Richard M. Nixon,” nndb.com (accessed July 2, 2014)
- NNDB, “Ronald Reagan,” nndb.com (accessed July 2, 2014)
- NNDB, “Rutherford B. Hayes,” nndb.com (accessed July 2, 2014)
- NNDB, “Theodore Roosevelt,” nndb.com (accessed July 2, 2014)
- NNDB, “Thomas Jefferson,” nndb.com (accessed July 2, 2014)
- NNDB, “Ulysses S. Grant,” nndb.com (accessed July 2, 2014)
- NNDB, “Warren G. Harding,” nndb.com (accessed July 2, 2014)
- NNDB, “William Henry Harrison,” nndb.com (accessed July 2, 2014)
- NNDB, “William Howard Taft,” nndb.com (accessed July 2, 2014)
- NNDB, “William McKinley,” nndb.com (accessed July 2, 2014)
- NNDB, “Woodrow Wilson,” nndb.com (accessed July 2, 2014)
- NNDB, “Zachary Taylor,” nndb.com (accessed July 2, 2014)
- Zach Montague, “Freshman Enrollment Appears to Decline for the First Time since 2020,” nytimes.com, Oct. 23, 2024
- National Student Clearinghouse Research Center, “Stay Informed with the Latest Enrollment Information,” nscresearchcenter.org, Oct. 23, 2024
- National Student Clearinghouse Research Center, “Current Term Enrollment Estimates: Spring 2024 ,” nscresearchcenter.org, May 22, 2024
- Center on Education and the Workforce, “After Everything: Projections of Jobs, Education, and Training Requirements throguh 2031,” cew.georgetown.edu, November 2023
- Rebecca Safier and Ashley Harrison, “Student Loan Debt: Averages and Other Statistics in 2024,” usatoday.com, May 10, 2024
- Federal Reserve Bank of St. Louis, “Unemployment Rate by Educational Attainment and Age, Monthly, Not Seasonally Adjusted: 25 to 34 Years,” fred.stlouisfed.org, (accessed January 14, 2025)
- Richard Fry, Dana Braga, and Kim Parker, “Is College Worth It?,” pewresearch.org, May 23, 2024
- Robert Farrington, “The Growing Gap between College Grads and Available Jobs,” forbes.com, July 24, 2024
- Patrick J. Casey, “Why Aren’t College Grads ‘Job Ready,’?” insidehighered.com, July 29, 2024
- Josh Zolin, “A College Degree Is Not Required for Success: Here’s Why,” linkedin.com, May 31, 2019
- Mingli Zhong, Jason Cohn, Catherine Harvey, “Ensuring Americans Can Retire Free from Student Loan Debt,” urban.org, July 24, 2024
- Ward Williams, “Student Loan Debt by Age,” investopedia.com, July 3, 2024
- Pamela Paul, “Colleges Are Putting Their Futures at Risk,” nytimes.com, Mar. 14, 2024
- Kim Parker, “The Growing Partisan Divide in Views of Higher Education,” pewresearch.org, Aug. 19, 2019
- Insight Staff, “Politics Are Affecting Which Colleges Students Consider,” insightintodiversity.com, Mar. 27, 2023
- Samuel J. Abrams and Amna Khalid, “Are Colleges and Universities Too Liberal? What the Research Says about the Political Composition of Campuses and Campus Climate,” aei.org, Oct. 21, 2020
- Thaís Roberto, “The Benefits of Diversity in Higher Education,” keg.com, Jan. 4, 2024
- Purdue Global, “Why Diversity in Colleges & Universities Matters,” purduegloval.edu, Mar. 29, 2023
- University of Birmingham, “Diverse Friend Groups Promote Better Social Cohesion and Well-Being, Study Finds,” phys.org, June 5, 2024
- Rebecca M. Carey, et al, “College Campuses Are Becoming More Diverse. But How Much Do Students from Different Backgrounds Actually Interact,” insight.kellogg.northwestern.edu, Jan. 2, 2023
- ;Alyssa Shearer, “What Makes the College-Educated More Likely to Vote?,” blog.ucsusa.org, Aug. 28, 2023
- Elissa Nadworny, “In a Surprise, U.S. Colleges Saw Higher Enrollment Last Fall,” npr.org, January 25, 2025
- Dana Goldstein, “Why Some Schools Are Rethinking ‘College for All’,” nytimes.com, March 6, 2025