Less than half of recent grads ‘strongly agree’ college was worth the cost
We write a lot about the importance to maximizing the return on investment of your college degree before, during and after college.
Unfortunately, the majority of recent college graduates don’t ‘strongly agree’ that their college experience was worth its high cost–most likely because they had to take out large student loans to help pay for it.
Grads dissatisfied with college value
According to Forbes, a recent Gallup-Purdue Index study surveyed 30,000 recent college graduates and found that only half said that they “strongly agree” that their diploma was worth the money they paid to obtain it.
And even fewer recent graduates (just 38%) strongly agree that their education equaled the price they paid.
Given the high cost of college, high student debt and less-than-stellar economy many recent graduates entered, it’s not surprising that most graduates feel this way.
In many cases, one of the reasons students feel shafted is that they paid a high amount for the degree and took out loans to help (which, as interest has accrued, are costing them even more).
How to make college more valuable
Many students and families don’t realize that there are alternatives to expensive colleges and taking out student loans, and it’s important to minimize the overall cost of college to help maximize its return on investment.
Some colleges tend to provide more “added value” and more opportunities for students than others–and prospective students would be wise to consider this factor when making their college decision and determining whether a college is worth the cost.
A student’s college major can also impact the return on investment of the degree and should be considered before taking on enormous debt to pay for it.
And during college, there are many ways to help make that investment grow in value.
According to the study, there are three factors that make students more likely to strongly agree that their degree equaled the price paid: if they participated in an internship related to their academic interests, if they were actively involved in student clubs and organizations while on campus or if they worked on a project that took longer than one semester to complete.
According to Forbes, participating in extracurricular activities could help students develop personal and intellectual growth, foster connections with others, and provide added value for when a student evaluates his or her college ROI down the road.
Maximize your college ROI
Of course, it’s up to the student to take advantage of these things during college–as well as make sure that these pursuits are widely available to students before deciding to attend the college.
The best place for prospective students to start is to make college more affordable before even attending. By avoiding high student debt, graduates will be in a place once they leave college and will receive a higher return on their college investment.
We help families and students figure out how to pay for college, avoid debt and maximize their college ROI. If you’re interested in learning how we can help you, call us at 1-888-234-3907 for a free consultation or leave us a message and we’ll get back to you right away.