Is college worth it?

At a time when many Americans are questioning the value of a four-year college degree, economic outcomes for young adults without a degree are improving. After decades of falling wages, young US workers (ages 25 to 34) without a bachelor's degree have seen their earnings increase over the past 10 years. Their overall wealth has gone up too, and fewer are living in poverty today. Things have also improved for young college graduates over this period. As a result, the gap in earnings between young adults with and without a college degree has not narrowed. The public has mixed views on the importance of having a college degree, and many have doubts about whether the cost is worth it.

Pew Research Center conducted this study to better understand public views on the importance of a four-year college degree. The study also explores key trends in the economic outcomes of young adults among those who have and have not completed a four-year college degree. The analysis in this report is based on three data sources. The labor force, earnings, hours, household income and poverty characteristics come from the US Census Bureau's Annual Social and Economic Supplement of the Current Population Survey. The findings on net worth are based on the Federal Reserve's Survey of Consumer Finances. The data on public views on the value of a college degree was collected as part of a Center survey of 5,203 US adults conducted November 27 to December 3, 2023.

Edited excerpts from publication. Show less