Student Loans Aren’t Worth It, Most Americans Say

student loans

The vast majority of Americans surveyed by Pew Research Center—more than 75%—say that college isn’t worth it if student loans are required to pay for tuition.

Findings from the survey were recently published in a new report entitled Is College Worth It? The report comes at a time when many high school graduates (and their parents) are questioning the value of a traditional four-year degree.

Although slightly more than half of respondents say a college degree is just as important (if not more important) now as it was 20 years ago, only 22% believe a degree is still worth it if a student must take out loans to pay for it.

The research center surveyed over 5,200 adults in the United States between the months of November and December of 2023.

Other key findings from the study include:

  • Just 1 in 4 Americans say a four-year degree is “very important” or “extremely important” for getting a good job. Roughly 35% believe it’s “somewhat important”.
  • Political affiliations seem to affect perspectives on the importance of a college degree; 57% of Republicans say a college degree isn’t as important as it was 20 years ago compared to 43% of Democrats.
  • Level of education also plays a role; 39% of those surveyed who hold an advanced degree perceive college as more important than it was 20 years ago compared to just 30% of those with a bachelor’s degree.

You can find out more about the survey results by downloading the full report from the Pew Research Center.

Source: Pew Research Center: Is College Worth It?

Related: How Do Student Loans Work?