New Yorkers Ask: Is a College Degree Worth It?

My daughter, Tara just finished her junior year at college. She, along with other young adults in New York, are wondering if getting a college degree is worth it? Will this help them find a better paying job?  Are you wondering the same thing? You're not alone.

A survey by Pew Research Center found that only one in four U.S. adults say a college degree is extremely or very important to get a well-paying job. On the other hand, 35% say it's somewhat important and 40% say it's not too important or not important at all.

The study showed a mixed view on the importance of getting a higher education. Almost half (49%)  said that it's less important now to get a four-year college degree than it was 20 years ago, and only 17% think it's just as important as it was 20 years ago.

This does not come as a surprise to me. Tuition is more expensive than ever and student debt is going through the roof, so many students can’t afford college. According to the survey, only 22% of U.S. adults think it's worth taking out loans to pay for a four-year college degree. 47% say it's worth the investment only if someone doesn't have to take out a loan, and 29% say it's not worth it at all.

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So is getting a college degree worth it? A study by the Center found that U.S. workers between 25 to 34 years of age, with a bachelor's degree, make more money compared to those without a degree. Four-year college graduates are more likely to say that their degree was helpful in giving them what they needed to get a well-paying job.

I know it was worth it for me and I think that it'll be worth it for my daughter too.