Is College Still Worth the High Price? Weighing Costs and Benefits of Investing in Human Capital

Students have several options for life after high school, including enrolling in college, pursing a technical training program, starting a career, or enlisting for military service. While college has been a popular choice, college enrollment for recent high school graduates has dropped from its peak of 70% in 2009 to 61% in 2021.¹ In fact, some people are challenging the notion that college is the best route for the majority of students. A March 2023 survey found that only 42% of Americans believe college is worth the cost because it leads to better job opportunities and higher income, while 56% believe that earning a college degree is not worth the cost. That has changed a lot in 10 years: A 2013 study found that 53% believed college was a good decision, while 40% believed it wasn't.²