Over half of the students who have graduated in the past decade consider college either unnecessary or a scam.

With jobs requiring a bachelor’s degree declining, college is not worth the investment for most students.

The rate of jobs requiring a bachelor’s degree has declined from 51% in 2017 to 44% in 2021, according to HigherEdDive.com. In other words, over half of the workforce is available to students without bachelor’s degrees.

That stat assumes students actually graduate, which is a bigger leap than one might think.

American dropout rates indicate that one out of every four students who start college does not make it past freshman year, and approximately 35-40% of undergraduate students do not complete their degree program within six to eight years.

For many students who actually graduate, college leaves them with burdensome debt. The average student debt has risen from $21,000 in 2010 to $39,000 in 2025, according to Lyss Welding of bestcolleges.com. Additionally, the total federal student loan balance has increased from $750 billion in 2010 to $1.6 trillion in 2025, according to Welding.

Student loan rates and the government’s loan balance have doubled over 15 years.

Moreover, the lowest interest rate is 6.39% for undergraduates, according to Studentaid.gov.

To illustrate, if a student takes out a $40,000, 20-year loan, he or she will end up paying about $70,444; for many, the interest nearly doubles the cost of the loan. This puts students neck deep in debt that takes years to pay off, and this is just for an undergraduate degree.

For a student aspiring to earn a master’s degree, attend graduate school, or attend specialized schools like medical school or law school, the average interest rate on their loan is 7.94%, per StudentAid.gov. At that rate, a $40,000 loan over 20 years will cost $80,480 on average.

According to Heidi Rivera of bankrate.com, the median income for a bachelor’s degree is $80,236 a year. In other words, students will eventually have to pay almost a year’s earnings — or more — to the government for an education.

The government is making a business of the future of college students by charging them absurd amounts of money for higher education.

The government is not just making money off students; colleges themselves are, too. While the primary purpose of the college is to educate, colleges are thriving businesses.

Colleges can spend up to $20 million on paying their athletes, according to Nil-ncaa.com. Colleges spend this money to attract better athletes and build stronger sports teams. According to econ.appstate.edu, when a college has a top-20 ranking in football or a top-16 ranking in basketball, it will see a 2% to 8% increase in applications. In other words, colleges spend an excessive amount of money on their sports teams to attract more students. It begs the question: Have we lost sight of college’s purpose?

Furthermore, according to Jon Marcus of hechingerreport.org, colleges have collectively spent more than $2.2 billion on advertising. The advertising looks like on-campus promotions, TV ads, and the college’s merchandise in high traffic areas, according to MSMedia.com.

Colleges have to get these funds from ticket sales at their sports games, sponsorships, donations, and, most importantly, students’ fees and tuition.

Colleges have raised their prices faster than inflation. Comparing 1980 to 2020, the cost of tuition, fees, and room and board has risen 169%, according to Brianna McGurran. Colleges as a whole generated $993 billion in revenue during the 2020-21 school year. In comparison, colleges made $745 billion in the years prior, according to Nces.ed.gov. The revenue of all colleges increased 33%.

For instance, Harvard alone made $45 million in profit in 2024, according to Harvard University’s financial overview.

With college prices being at an all-time high, some students are resorting to other ways (or other countries) to get an education.

“College is way too expensive compared to colleges overseas, such as London,” Saint Paul’s junior Chris Lobue said.

The United Kingdom (UK) is cheaper for international students than the US. Moreover, the cost of living is cheaper. In the US, student halls range from $500 to $1,200, while in the UK, they range from $280 to $720. Not to mention, groceries are half the price in the UK than in the US, as well as mobile bills and the average night out, according to edvoy.com.

While the current state of affairs in America makes college unnecessary or a scam for most students, it is necessary for some.

For instance, for full-time jobs that require degrees like law and medicine, college is great for students aspiring to those careers. However, it’s worth reiterating that the investment becomes much more logical for those not going into debt or taking out student loans to attend college.

In other words, the wealthy are more likely to get a positive return on investment than those who cannot afford college at the outset.

The rich get richer. The cycle’s repeated.

Some colleges, like Ohio State University, offer benefits after college. Specifically, according to learn.org, some colleges offer career services, such as internships and networking, for graduating finance students. In fact, colleges may offer strong networking opportunities for many graduating students across various degrees.

Adding to the positives, colleges don’t just connect students to jobs; they connect students.

Saint Paul’s sophomore and junior counselor, Mrs. Christine Woodard, backs this. “A college experience opens doors far beyond the classroom: lifelong friendships, fostering critical thinking, and meaningful career opportunities,” Woodard said.

One way students connect to other students is through Greek life. While many small or private schools have little to no fraternities, big SEC schools, like Alabama, have 30-33% of students active in Greek life, according to calendar.ua.edu.

Another big way students connect is through extracurricular activities. According to insidehighered.com, over half of the students they interviewed said they were involved in at least one club.

However, many parents who are helping pay the steep price of their sons’ and daughters’ college tuition and living expenses are having a tough time coming to grips with the idea that they are actually paying for networking and connections through social experiences, rather than for a quality education that directly leads to success in the workforce.

Studies show that an alarming number of students spend more time in college socializing and finding new friends than attending classes.

“We made sure to convince our kids to major in something useful – something that they can parlay into an actual job that pays well and that hopefully they enjoy. And they did. They listened. But it’s hard to hear stories and see social media and not wonder whether I’m really just dropping 20K [$20,000] a year each for my son and daughter to attend frat parties,” one anonymous Saint Paul’s parent said.

While college costs money, it gives college graduates a better start in the workforce than high school graduates. Woodard agrees with this. “Across the nation, college graduates earn significantly more and face much lower unemployment rates. Pursuing a college degree helps students grow, succeed, and create a brighter future for themselves and the communities they will one day serve,” Woodard said.

Accordingly, a study by Arizona State University (ASU) found that high school graduates earn 48% of college graduates’ wages. Additionally, the average unemployment rate for graduates with a bachelor’s degree or higher is almost half that of high school graduates. According to bls.gov, the unemployment rate for high school graduates is 6.7% compared to the 3.7% for college graduates with a bachelor’s or higher.

It’s hard to argue, but that assumes one actually graduates, which is far from a guarantee, given financial struggles and dropout rates. Nowadays, fewer and fewer Americans are overcoming the steep financial burden of tuition (along with the rising cost of living), actually staying focused and diligent long enough to graduate, and finally, securing a job that actually requires their college degree.

These thresholds are necessary to reap the full benefits of a college education.

All of these factors make college less of a sure thing or a necessary next step, leaving many Americans to pursue alternative avenues, such as trade school or starting their own business.

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Featured Image Photo Credit: Lyss Welding, bestcolleges.com