Disgruntled graduates: 36% say college was 'a waste of time and money'

A college degree's value in the job market is declining for both employers and their workers, writes Bruce Crumley in Inc. "The workplace value of diplomas dipping even as the cost of obtaining them rises."

In a recent Harris Poll, 36 percent of college-educated workers said their degree was a waste of time and money, he writes. That rose to 50 percent for Gen Z graduates.

Among those paying off college loans, nearly 40 percent "said their degrees had paid lower returns professionally than they had cost them in tuition and years of loan payments."

Half went to college because they thought it was necessary to qualify for a job, not because they wanted a college education. However, employers increasingly are removing college requirements for many jobs, if applicants can show job skills and experience, writes Crumley. There's also some evidence that employers are using AI for what otherwise would be entry-level jobs.

Last year's job market for college graduates was "tough," reported Peter Coy in the New York Times. "There aren’t enough college-level jobs out there for all of you." The Class of '25 will face a "chilly" job market, predicts the Wall Street Journal. In times of uncertainty, employers often put off hiring.

Colleges that offer co-op programs -- students spend several semesters working for companies -- do very well at placing graduates in jobs, reports the Martin Center. Students gain work experience and professional contacts.

At Drexel University in Philadelphia, where more than 94 percent of students participate in a co-op program, 97 percent of its business students are working in professional jobs (or in graduate) school within a year of earning a degree.. Sixty-one percent of all graduates have at least one job offer upon graduation.

College-goers looking for upward mobility can consult the Student Access and Earnings Classification, which tracks the return on investment for students who enroll in college, not just those who earn a degree. The Carnegie Foundation and the American Council on Education highlight 479 Opportunity Colleges and Universities nationwide. These "engines of the American Dream" offer above- average access to lower-income students and above-average return on investment after eight years. Here's the index of "opportunity colleges" that grant bachelor's degrees.