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

Billy Joel: Obama smoking story 'untrue'

After a report emerged from a source for The Hill newspaper that Joel on a trip to Washington, D.C., claimed that he recently smoked a cigarette with President Obama, the musician is now denying the story.

Pharrell: Brown's actions 'bully-ish'

Musician Pharrell Williams said in a recent Ebony magazine interview that President Obama "should have gone down" to Ferguson to address the situation.

Billy Joel smoked with Obama

According to one of The Hill's sources, Obama invited Billy Joel to have a cigarette with him when the musician made a recent trip to the White House.

Beckham's catch = Obama's executive act

You know it is.

'SNL' remakes Schoolhouse Rock
“Saturday Night Live” hit today’s political process right on the nose during the show’s cold open. Spoofing Schoolhouse Rock’s “I’m Just a Bill,” Kenan Thompson as the bill tried to explain how he becomes a law. But before he can make his way  to President Obama’s desk to be officially signed into law, Obama beats him […]

White House

White House claims Obama is ‘not a media critic’

The White House doesn’t really seem to have a problem contradicting itself, so maybe this latest whopper shouldn’t surprise us.

Obama uses turkey pardoning to joke about his executive action on immigration
This is one executive action President Obama is sure won’t ruffle Republicans’ feathers. In fact, he’s so sure of that fact that he decided to make a joke during the annual turkey pardoning referencing his unprecedented use of executive action to grant amnesty to 5 million illegal immigrants. “I’m here to announce what I’m sure will […]
Poll: Americans split on Obama’s immigration order
Americans are sharply split on their reaction to President Barack Obama’s recent executive actions on immigration that will essentially give amnesty to about five million undocumented immigrants,according to a new poll. The latest Quinnipiac University survey released Tuesday found that 45 percent of voters support the president’s move, while 48 percent opposes it. Support for […]
Eric Holder stresses that federal investigations in Ferguson are not over

Attorney General Eric Holder released a statement Monday night assuring rioters that the Justice Department still has two investigations to complete in Ferguson.

Obama appeals for calm after Ferguson decision

WASHINGTON (AP) — President Barack Obama appealed for calm and understanding in Ferguson on Monday after a grand jury decided not to indict in the death of Michael Brown, pleading with both residents and police officers to show restraint.

Congress

Pelosi and Obama versus Schumer and America

This is like one of those times a member of a professional wrestling posse turns heel on national television and sets off the drama.

Rand blames 'politicians,' drug war in Ferguson

Sen. Rand Paul’s Time op-ed on Ferguson Tuesday blamed politicians for creating “a culture of violence” through the War on Drugs, and urged Ferguson protesters to “channel your frustration in ways that will make a positive change.”

Why are House Members exempt from ethics training?
Two U.S. representatives are questioning a curious practice on the Hill that exempts House Members from ethics training. But it doesn’t look like they are getting much support from their colleagues that enjoy this perk. Reps. David Cicilline (D-R.I.), and Scott Rigell (R-Va.), are urging congressional leaders to end the House exemption on the annual ethics […]
Paul calls for formal declaration of war on ISIS

Sen. Rand Paul wants Congress to formally declare war against ISIS.

The fallout from Boehner not owning a dog

President Obama's offer to smooth over an immigration reform compromise with Speaker John Boehner has turned out to be a case of barking up the nonexistent tree.