Nearly half of Americans say having a college degree is less important now than it was 20 years ago

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Personnel,Labor Economy

The escalating cost of college and ballooning student debt have influenced the shift in attitudes about higher education.

In 2011, 86% of college graduates said their degree had been a good investment; in 2013, 70% of U.S. adults said a college education was "very important," according to

College graduates on average earn more than those without a four-year degree — but this so-called college wage premium is shrinking.from the San Francisco Federal Reserve found that the college wage gap peaked in the mid-2010s but declined by four percentage points in 2022. Now, bachelor's degree holders earn about 75% more over their career than those without.

After decades of falling wages, young U.S. workers without a bachelor's degree have seen their earnings increase over the past 10 years. In 2014, men in this group were earning $39,300, while women were earning $30,900.

 

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