College Costs

A record 35 percent of Americans had attended at least four years of college in 2018 — up from 4.6 percent in 1940. But with tuition rising as much as four times faster than inflation, many graduates are facing high amounts of college debt — almost $30,000 on average — and more than 40 percent are underemployed in their first jobs. These trends raise questions about whether a college degree today is worth the time and money. Studies continue to show a four-year degree boosts lifetime earnings over those of high school graduates, but new research shows that not all graduates will see a strong return on investment, depending on gender, race, family income and type of degree. Employers, meanwhile, complain they cannot find skilled workers to fill good-paying jobs that do not require a college degree. Some experts recommend expanding low-cost alternative training programs, such as vocational education and skills-based “boot camps.” Consumer advocates raise concerns that some for-profit training programs require oversight to prevent inadequate learning or fraud, yet the Trump administration has been deregulating the industry.