A dramatic shift in public opinion has swept across the United States: for the first time, a clear majority of Americans — including many who hold college degrees — believe a four-year bachelor’s degree is no longer worth the price tag.
A NBC News poll found that 63% of registered voters agree that a four-year degree is “not worth the cost, because people often graduate without specific job skills and with a large amount of debt to pay off.” Only 33% say it remains “worth the cost because people have a better chance to get a good job and earn more money over their lifetime.”
That marks a stunning reversal from 2013, when 53% called a degree worth it and 40% said it was not.
Even among voters who have earned a college degree, sentiment has flipped. Just 46% now view their own credential as worth the expense, down from 63% in 2013.
“It’s just remarkable to see attitudes on any issue shift this dramatically, and particularly on a central tenet of the American Dream, which is a college degree,” said Democratic pollster Jeff Horwitt of Hart Research Associates, which conducted the survey with Republican pollster Bill McInturff of Public Opinion Strategies. “Americans used to view a college degree as aspirational — it provided an opportunity for a better life. And now that promise is really in doubt.”
The souring crosses party lines but is sharpest among Republicans: only 22% now say a degree is worth it, compared with 55% in 2013. Among Democrats, 47% say a four-year degree is worth it, down from 61% in 2013.
Among voters without a college degree, 71% call it not worth the cost — up from an even split a decade ago.
Inflation-adjusted tuition at public four-year colleges has doubled since 1995, while private-school costs are up 75%, according to College Board data. Meanwhile, unemployment among recent graduates has climbed since 2022 and now exceeds the national rate, with a Goldman Sachs analysis showing their traditional labor-market edge at historic lows.
Preston Cooper, a senior fellow at the American Enterprise Institute, said the long-standing narrative that a bachelor’s degree always pays off has cracked.
“I think students are more wary about taking on the risk of a four-year or even a two-year degree,” Cooper told NBC News. “They’re now more interested in any pathway that can get them into the labor force more quickly.”
Separate reports show trade-school enrollment rising sharply — up nearly 5% from 2020 to 2023 and projected to grow 6.6% annually through 2030—as young people seek faster, cheaper routes to stable careers.
Fortune attributed the increase in trade school enrollment to mounting evidence that AI is shrinking entry-level job opportunities, driving students to pursue more hands-on trades.
Statistics show that college graduates, overall, earn more money and have lower unemployment rates than non-graduates, according to Fortune. However, the joblessness rate among degree-earners has been trending upward since 2022 and now exceeds the overall unemployment rate. The traditional edge over their non-degree peers is at historic lows, according to an analysis by Goldman Sachs.
Americans are now carrying $1.81 trillion in student loan debt as of September 30, 2025. Federal loans account for the overwhelming majority, at $1.67 trillion, owed by 42.3 million borrowers, while private student loans add another $148 billion.
Twenty percent of American adults with an undergraduate degree carry student loan debt. On average, each federal borrower owes $39,375, though the median balance — a better reflection of the typical borrower — is far lower at $20,281.
Federal student loan borrowers in 2025 have several targeted options for forgiveness, though broad relief remains limited following legal setbacks. Public Service Loan Forgiveness (PSLF) continues to offer debt cancellation after 10 years of qualifying payments for full-time workers in government or nonprofit roles.
Income-driven repayment (IDR) plans like Income-Based Repayment (IBR) and Pay As You Earn (PAYE) cap monthly payments at 10-20% of discretionary income, forgiving remaining balances after 20-25 years.
