Concerns about the rising cost of college tuition and student debt have led universities to focus on demonstrating the financial return on investment of a degree to prospective students. This approach, borrowed from the business sector, involves new rankings that assess the financial benefits of a degree and states publishing reports on college payoff. While research generally supports that bachelor's degrees offer a long-term financial advantage, there's increasing recognition that not all degrees lead to high salaries, and the risk for graduates has grown. A recent analysis indicates that graduates from most programs can expect a positive return within 10 years, but this varies significantly by state, with more affordable states generally seeing better outcomes.
Families are increasingly questioning the value of college due to high tuition costs and the potential for long-term debt, with some students opting for technical schools or trades instead. This sentiment is echoed by some government officials who question the necessity of a four-year degree for all students to achieve success. Colleges are addressing this by working to lower tuition and improve graduate earnings, with many having reduced sticker prices and others working to align degree programs with employer needs by seeking input from business leaders.
A persistent challenge for U.S. colleges is bridging the gap to the job market, as a significant percentage of recent graduates are employed in jobs that do not require a college degree. Efforts to address this include federal rules aimed at cutting funding for programs with low graduate earnings and a move towards gre... download the app to read more
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