New Country Financial Survey Finds that 25% of Americans Feel College Is Not a Good Investment
Are most Americans starting to doubt the value of a traditional college education? Maybe not, yet this year’s Country Financial survey found that one in four Americans now feels that college is not a good investment.
To quote from a survey summary . . .
“Concerns over rising tuition and uncertain employment prospects may be fueling doubts about the fiscal value of college. One in four (26 percent) say, given the rising costs, a college education is not a good financial investment, up seven points from 2010. It is the greatest number of people to feel this way in the survey's four-year history. Since 2008, those believing college is a good investment dropped from 81 percent to 58 percent.”
And here’s another priority shift . . .
“On a positive note, the number of Americans who are prioritizing retirement savings continues to increase. Nearly half (46 percent) say it is more important to save for their own retirement over a child's college education, up three points from 2010 and four points from 2009.”
If you juxtapose those statements, it becomes clear that people may be starting to invest less money in their children, and more money in themselves.
With the costs of higher education surging out of bounds, attitudes were bound to change. Could this year’s Country Financial survey be an early sign of a major shift in attitude toward college? Only time will tell.
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