A new survey finds that a majority of college graduates “strongly agree’ that a college education is worth the time and effort – but those numbers drop sharply when the amount of debt gets high”.
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A study by Gallup and Purdue University reveals that only 38 percent of those who earned a bachelor’s degree starting in 2006 strongly agreed that their education was worth the cost. “If alumni don’t feel they’re getting their money’s worth, we risk this tidal wave of demand for higher education crashing down”.
63 percent of the recent graduates who responded stated that they used student loans for their undergraduate degree.
While about this of modern education institution alumni emptied financing tally greater than usd25,000, which typically determine is substantially larger for most excellent grads and people who was first inside their family member to see school. Over 33 percent of them borrowed over $25,000.
When comparing alumni of public universities and private nonprofit universities, the figure varies only slightly, as 52 percent strongly agreed that their education was worth the cost compared to 47 percent.
That is because most face significant student loan debt, according to the annual Gallup-Purdue Index, released Tuesday. “As the study shows, their experience is determined much more by the relationships they build with mentors and the success they are able to achieve via their work on campus or overseas”. These relationships hold even when controlling for personality characteristics and other variables, such as student loan debt and employment status, that could also be related to graduates’ perceptions that college was worth it. And do students graduate well equipped for finding good jobs and prospering financially, as well as for pursuing their passions and leading healthy, fulfilling lives? “In our quest to increase college attainment and meet the growing need for talent in the United States, we must produce graduates who are able to thrive both professionally and personally”.
The current Gallup-Purdue Index results reaffirm the importance of supportive relationships between undergraduates and professors and other mentors.
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The report said U.S. News & World Report school rankings are only loosely related to their recent graduates’ views that their education was worth the cost. The pollsters also found that any borrowing at all dampened recent graduates’ perceptions of their college experience.
