New study finds that recent college grads regret attending school

college graduate piggy bank poor broke unemployedCollege students sometimes do stupid things in life that they regret. But, until recently, attending college itself was probably not one of them.

A new study by Wells Fargo found that one in three Millennials regret attending college and would have instead preferred to work instead of rack up debt they will be paying off for decades to come.

The study also found that nearly half of the 1,414 respondents took out loans to pay for their education, which was likely a key factor in their decision to regret going to school. In 2012, student borrowing topped $100 billion for the first time, while overall outstanding student loans topped $1 trillion in 2011. The situation has gotten so bad that Americans today owe more in student loan debt than they do in credit card debt.

American schools are already feeling some of the effects of students forgoing the books in favor of the paycheck. College enrollment is down 2.3 percent this spring compared to 2012, according to a new National Student Clearinghouse study, as greater numbers of teens opt for the workforce instead of school. 

Another contributing factor could be that college students aren’t often employed in their chosen field of study post-graduation anymore. A report from the Federal Reserve of New York found that only 27 percent of college grads have jobs closely related to their majors, while a recent study of law school graduates found that more than half of them weren’t working in a law-related career – a big letdown after you’ve spent nearly $100,000 on top of what you paid for your bachelor’s degree to become the world’s next big-shot attorney.

Employers aren’t necessarily viewing a college diploma as good preparation for the workforce anymore, either. A new poll by Rasmussen Reports found that 48 percent of Americans don’t think college graduates have the requisite skills to get a job.

It seems that Millennials are starting to doubt the necessity of higher education, and who could blame them with today’s college tuition fees and lack of available jobs post-graduation.

Comments

Comments

  1. rd says:

    I don’t find it surprising – Colleges will take anything that brings money – it is NOT a place of higher education that takes the cream that is rising to the top and makes it into butter – but whatever will bring in the money – and it’s fine with colleges and universities if it’s tax dollars that will be owed for perhaps the rest of a students life. I understand taking the top 10 or 20% of high schools and paying their way through college – I don’t understand taking anyone that can pay and then spends much of at least their first year – trying to grow up – used to be done in the military.

  2. TraderJo says:

    The SMART student had better calculate how much it’s actually going to cost before enrolling in the high-dollar, high-tuition college/university and applying for a student loan. Then add in a factor of at least 50% since those schools can raise tuition & fees on a whim.

    Better to get the basics (math, science, etc) outta the way at a junior college before stepping up to the expensive school.

Polititainment

Mitt's awesome ice bucket challenge reax

"Mitt does the most Mitt thing ever."

Jay-Z's Cuba trip did not violate law
The U.S. Treasury Department apparently fears the wrath of the Beygency as much as the rest of the world. A U.S. Treasury investigation has found Jay-Z and Beyoncé’s 2013 Cuba trip did not violate sanctions law. Beyoncé and Jay-Z, close friends of the Obamas,  had obtained permission to visit the blacklisted country from the Treasury’s Office […]
'Harry Potter' made youth more liberal
Millennials grew up in the wizarding world of Harry Potter. Deciding who was the Hermione, Harry and Ron in your friend group, wishing for the end of He-Who-Must-Not-Be-Named, and  knowing that the correct way to say the “leviosa” spell is “levi-OH-sa” was built into the fabric of  our collective childhood. Apparently Harry and friends are […]
Obama once killed a 'SNL' sketch
Presidents, first ladies and all types of political candidates have been both frequent guests and the butt of jokes on “Saturday Night Live.” The Hollywood Reporter published an excerpt Wednesday of the updated edition of the Saturday Night Live oral history, “Live From New York,” written by James Andrew Miller and Tom Shales and it featured a lot of juicy details about […]
Christie defends use of Boss' music

Chris Christie saw The Boss just a week ago, and there's no beef about the guv using his tunes, thank you very much.

White House

Government watchdog says Bergdahl swap was not only illegal, it was doubly illegal

Congress' chief watchdog said that the U.S. prisoner swap involving Army Sgt. Bowe Bergdahl violated two laws in a report issued Thursday.

10 photos of President Obama in his office that will restore your faith in the presidency

Smile already, America. Your commander in chief is in the driver's seat.

Newt Gingrich: Obama’s ‘golf problem’ is that he stinks when he’s not playing it

"If the economy was growing, the border was controlled, the Middle East was stabilizing and there were no outbreaks of violence in the streets of major American cities, no one would comment on the number of golf games President Obama played."

Obama heads back to vacation after unexplained DC trip
THE HILL – President Obama went back to his vacation on Martha’s Vineyard Tuesday evening following less than 48 hours in Washington, leaving people puzzled over why he came back in the first place. Obama’s two days in Washington were mostly quiet, and concluded with the president receiving his daily national security briefing in the morning, […]
President Obama ‘didn’t know’ the Missouri governor was calling National Guard to Ferguson

As has been the case with so many crises that have faced America during Obama's time in the White House, it appears the president has learned about the Missouri Governor calling the National Guard to Ferguson on the news.

Congress

McConnell’s plan to shut down Obama
POLITICO – Mitch McConnell has a game plan to confront President Barack Obama with a stark choice next year: Accept bills reining in the administration’s policies or veto them and risk a government shutdown. In an extensive interview here, the typically reserved McConnell laid out his clearest thinking yet of how he would lead the Senate […]
See the 'Best of' Pelosi's incoherent babbles
Whether she is spouting off about  “race ha[ving] something to do” with the Republican stance on immigration or charging across the U.S. House floor to call a fellow representative “insignificant,” House Minority Leader Nancy Pelosi (D-Calif.) is known for saying some crazy things. Roll Call has compiled some of Pelosi’s greatest hits from 2014 in a video […]
Voters do not believe Congress deserves reelection
Most Americans do not believe current members of Congress deserve to be reelected, a new poll finds. A Gallup poll released Monday found that only 19 percent of registered voters say most members of Congress deserve to be reelected. This the second lowest figure since Gallup first started asking the question in 1992. People feel more […]
Schock outlines how GOP can attract millennials
Positive messaging, reaching out in person, and uniting the party behind strong economic policies are all ways Rep. Aaron Schock (R-Ill.) thinks the Republican party can win over millennial voters. Schock appeared on CNN Friday to talk with conservative commentator S.E. Cupp about winning young voters. As the second-youngest member of the House of Representatives at […]
Rep. Justin Amash defends his bold victory speech
After a bitter primary fight, Rep. Justin Amash (R- Mich.) delivered a bold victory speech in which he skewered his opponent last week. The Congressman has taken plenty of heat for his less-than-gracious words, but Amash is not backing down. Amash wrote an op-ed in the Grand Rapids Press Thursday to defend his statements and to […]