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A growing number of young Americans are questioning whether college is still worth the cost as affordability concerns and economic uncertainty continue to rise.
New polling from higher education consulting agency EAB found that 67% of high school graduates surveyed said they are currently opting against college because of cost-of-living concerns — a sharp increase from last year. Many respondents cited worries about taking on student loan debt while already struggling with higher costs for rent, food, and other daily expenses. Others reported feeling pressure to enter the workforce immediately instead of pursuing higher education.
The survey revealed strikingly low enthusiasm toward college overall. Just 13% of respondents said they feel optimistic about attending college, while only 7% expressed excitement about it — numbers that signal a significant shift in attitudes toward higher education.
These findings come amid a more uncertain job market for young workers. Hiring for entry-level positions has slowed across multiple sectors, while unemployment among recent college graduates has risen in recent years. This combination of factors is fueling skepticism about whether traditional four-year degrees still provide the financial stability they once promised.
“We’re seeing a generation that’s much more calculated about major financial commitments,” said Dr. Eleanor Harris, an education economist at Georgetown University who was not involved in the study. “They’re weighing immediate earning potential against long-term debt in ways previous generations didn’t have to.”
Despite the growing skepticism, experts caution against dismissing the value of higher education entirely. According to data from the U.S. Bureau of Labor Statistics, workers with bachelor’s degrees continue to earn more on average over their lifetimes and experience lower unemployment rates than those with only high school diplomas. The median weekly earnings for bachelor’s degree holders remain approximately 65% higher than for those with only a high school diploma.
Education policy analysts suggest the bigger concern may be that financial fears are increasingly shaping major life decisions for younger Americans — including whether to attend college, buy a home, or start a family — potentially limiting social mobility and economic advancement.
The college affordability crisis coincides with broader financial anxiety nationwide. New Gallup polling found affordability remains Americans’ top financial concern in 2026, with a record 55% saying their financial situation is getting worse — one of the highest levels Gallup has recorded outside of major economic crises like the 2008 recession.
Inflation and the high cost of living topped Americans’ financial worries in the Gallup survey. Oil and gas prices, which have surged to a national average of $4.45 a gallon amid ongoing tensions in the Middle East, ranked high among concerns. Los Angeles residents are feeling particular strain, with some stations charging more than $6 per gallon. Housing costs and healthcare expenses also ranked among the biggest financial stressors.
While inflation has cooled from its peak of 9.1% in June 2022, many Americans continue to struggle with the cumulative impact of years of higher prices. The cost of housing has increased approximately 20% nationwide since 2020, while grocery prices remain elevated despite recent moderation. Economists note that wage growth, though improving, has not fully kept pace with these rising living expenses, leaving many households financially strained.
“We’re seeing what might be called ‘financial caution syndrome’ across multiple generations, but especially among younger Americans,” said Maria Gonzalez, chief economist at Financial Research Associates. “The combination of student loan concerns, housing costs, and general inflation is creating a perfect storm of economic anxiety that’s affecting major life decisions.”
These economic pressures are reshaping traditional pathways to adulthood and success. Young adults are increasingly pursuing alternative education options, including trade schools, certificate programs, and apprenticeships that offer quicker entry into the workforce with lower upfront costs.
For colleges and universities, this trend presents an existential challenge. Many institutions have already seen enrollment declines, with community colleges and smaller four-year schools particularly affected. Education experts suggest that addressing affordability through expanded financial aid, income-based repayment plans, and clearer career pathways will be crucial for higher education’s future.
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14 Comments
The survey results reflect the challenging economic climate many are facing. It’s understandable that students would be hesitant to take on significant debt when the job market is uncertain. This could have broader implications for the higher education system.
I’m curious to see if colleges will need to adjust their offerings and costs to remain attractive to prospective students in this environment.
The findings around the cooling enthusiasm for college are quite concerning. If this trend continues, it could have significant implications for labor force development and the broader economy. Policymakers will likely need to address these affordability challenges.
Do you think this could lead to a greater focus on skills-based training and non-traditional education pathways to help fill workforce needs?
This study underscores the very real financial pressures young Americans are facing as they consider their futures. Higher education costs have been rising for years, so it’s not surprising that affordability is a major factor in their decision-making.
I wonder if we’ll see more public-private partnerships emerge to help make college more accessible and aligned with workforce needs.
The low enthusiasm and excitement around college attendance is quite striking. This signals a real shift in attitudes that could disrupt traditional higher ed pathways. It will be important to monitor how students respond to these growing affordability concerns.
Do you think this could lead to a rise in alternative credentials or microcredentials that are seen as more cost-effective and job-relevant by students?
Interesting to see how financial anxiety is reshaping young Americans’ perspectives on higher education. Pursuing a degree is a major life decision, and cost-of-living concerns seem to be a significant factor for many.
I wonder if this trend will lead to more alternative paths like vocational training or apprenticeships gaining popularity as students weigh the value of a traditional college degree.
The findings around the cooling enthusiasm for college are quite concerning. If this trend continues, it could have significant implications for labor force development and the broader economy. Policymakers will likely need to address these affordability challenges.
Do you think this could lead to a greater focus on skills-based training and non-traditional education pathways to help fill workforce needs?
This study provides an important window into the financial anxieties and shifting attitudes of young Americans when it comes to higher education. It will be critical for colleges, employers, and policymakers to respond to these changing dynamics.
I’m curious to see if new models of education and workforce development emerge to better meet the needs of today’s students and the evolving job market.