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

Michael Bay might direct Benghazi movie

Bay, who has spent the last several years gaining popularity for his "Transformers" films, is reportedly in talks to direct the Benghazi film "13 Hours," according to the Hollywood Reporter.

Holder wants Denzel to play him in movie

Holder spoke to The Hill about Hollywood and politics while at an event at the Washington Ideas Forum Wednesday that was hosted by The Aspen Institute and The Atlantic.

'Rival Survival' premiering Wednesday

Senators Jeff Flake (R-Ariz.) and Martin Heinrich (D-N.M.) are getting ready to show America their bipartisan fire-starting skills on "Rival Survival," a reality show starring tho lawmakers that premiers Wednesday night on the Discovery Channel.

Lovitz has a field day with Hillary

Before Hillary Clinton's jobs comment is swept aside as a minor whoopsie, a few words from Jon Lovitz.

John Oliver has some ideas for the FDA

Some people want more nutrition information on food labels--but who really understands those labels anyway?

White House

Russian hackers broke into the White House network

Hackers with suspected ties to the Russian government recently broke into the White House’s unclassified computer network, the Washington Post reported Tuesday night.

Obama is withholding over 15,000 Fast and Furious documents

President Obama claimed executive privilege to withhold over 15,000 documents relating to Operation Fast and Furious, including nearly 20 emails sent between Attorney General Eric Holder and his wife.

White House fence jumper charged with assault
WASHINGTON (AP) — The 23-year-old Maryland man who climbed over the White House fence Wednesday night has been charged with felonies for assaulting two police dogs and making threats, the Secret Service said Thursday. Dominic Adesanya of Bel Air, Maryland, is in custody of the U.S. Marshals Service for previous outstanding warrants, Secret Service spokesman Brian Leary said. […]
President Obama, unpaid bills and the curious editing of the White House transcript
President Obama, some unpaid bills and a curiously “inaudible” section of the White House recording of a speech — that’s how all good stories start, right? While at a Democratic National Committee fundraiser in Chicago, Obama cracked a joke about the “unpaid bills” at his home. The joke was reported by the White House Press […]
Secrecy shrouds how the Obamas cook their chicken wings

Now it seems the Obamas are tight-lipped even about their eating habits.

Congress

Justin Amash envisions a libertarian Congress

Rep. Justin Amash, the libertarian congressman from Michigan, knows that Congress is far from libertarian. But someday, he thinks that might change.

Rand Paul: The GOP's image ‘sucks’

Rand Paul didn’t mince words about the GOP.

Small college's students thrown into 2014 election

Young people tend not to engage much in the humdrum local politics that go into midterm elections. But what if it’s happening literally in their own backyard?

GOP senator: 'Sorry the government's so f***ed'

Sen. Lindsey Graham (R-S.C.) made some self-deprecating jokes and colorful remarks about the state of the government during a recent private gathering, per a recording provided to CNN by South Carolina Democrats.

Top lawmaker's Ebola claim

A leading House Republican says he is aware of information that points to the United States eventually receiving non-U.S. Ebola patients for treatment.