A new Gallup poll shows that Americans' belief in the importance of a college education has reached its lowest point since the question was first asked in 1978. Only 31 percent of respondents now say a college education is "very important," down four percentage points from last year and a dramatic drop from the 70 percent who said the same in 2013.

The decline in perceived value is seen across all age groups, with both young adults and older Americans now equally likely to rate college as very important. Traditionally, groups such as women, people of color, college graduates, and Democrats have valued higher education more highly, but even among these, less than half rate it as "very important" today. Among Republicans, only 39 percent rate college as either fairly or not too important, reflecting broader skepticism. The number of Americans who say college is "not too important" has more than doubled since 2019, now at 24 percent—compared with just 4 percent in 2010.

Rising costs are a key factor behind these shifting views. According to an NBC News poll, 63 percent of Americans feel a four-year degree is not worth the cost—a reversal from 2013, when only 40 percent held that view. The total bill for a bachelor’s degree, including tuition, living expenses, loan interest, and lost earnings, can exceed $500,000, while one in four unemployed Americans now has a college degree, a new high.

Despite these concerns, most Americans still see at least some value in higher education. A Lumina Foundation and Gallup survey found that while only 18 percent of adults without a degree think four-year colleges charge a fair price, the majority still believe that an associate or bachelor’s degree is valuable. Seventy percent of adults without a college degree said a bachelor’s is "extremely" or "very" valuable, though they often favor two-year programs for affordability and practical job prospects.

Many respondents also believe their investment will eventually pay off: 58 percent expect college to pay off within five years of graduation, and nearly 90 percent within 10 years. However, the erosion of the so-called "college wage premium," escalating student debt, and doubts about the relevance of certain degrees have contributed to growing skepticism about the overall worth of higher education.

Critics have also pointed to perceived political biases, changes in curriculum, and the increasing presence of diversity, equity, and inclusion (DEI) requirements as factors influencing public opinion. The decline in support for higher education appears to be driven by a combination of economic concerns, employment outcomes, and cultural debates.

Armstrong & Getty