"Degree Is a Waste of Money"... College Skepticism Spreads Among Young Americans [World is Z Gold]

More Than Half of US Generation Z Graduates Say "Degree Is Useless"
Soaring Tuition and Student Loans Drive Up Economic Burden
Tuition Burden Rises in Korea as Well... 7 Out of 10 Universities Raise Fees

Editor's NoteGeneration Z (those born in the late 1990s to early 2010s) is recognized as a generation that leads culture and trends in a rapidly changing era, creating new standards across society. In [World is Z Gold], we highlight the lives and values of Generation Z around the world, examining how they are transforming society.

More than half of Generation Z college graduates in the United States now say that "a degree is useless," reflecting growing skepticism about college degrees among young people. While a degree was once considered a prerequisite for a stable life, there is now a widespread perception that it no longer guarantees financial security or career success.

More Than Half of US Generation Z Graduates Say "Degree Is Useless"

The number of Generation Z individuals who are skeptical about college degrees, especially in the United States, is increasing. Photo by Getty Images Bank

According to a survey conducted by the job platform Indeed of 772 US adults on May 24, 51% of Generation Z graduates responded that "a degree is useless." This figure is higher than that of the Millennial generation (41%) and the Baby Boomer generation (20%).

This tendency to devalue a degree was especially pronounced among those with student loan debt. Among respondents with debt, 41% considered their degree "a waste of money," compared to only 31% among those without debt. Additionally, 38% of all respondents said that "student loans actually hindered their career growth," indicating that student debt is a significant burden.

This perception has led to skepticism about the practical necessity of a degree. In this survey, 68% of Generation Z respondents said, "I can do my current job without a degree." This percentage was higher than that of the Baby Boomer generation (49%), Generation X (55%), and the Millennial generation (64%). In other words, the younger the generation, the less they feel a college degree is necessary.

Soaring Tuition and Student Loans Drive Up Economic Burden

The economic burden on Generation Z in the United States is increasing due to soaring tuition fees and student loan debt. Pixabay

Sean Lyons, Associate Dean of the College of Business and Economics at the University of Guelph in Canada, told US media outlet Newsweek that "in the past, a college degree was relatively rare, so it carried a professional premium." In the 1970s, only 10% of Americans had a college degree, but today that figure has risen to 40%, and the number of people with advanced degrees has surged. As a result, a college degree is no longer an essential requirement for career success.

Soaring tuition fees and student loan debt are also fueling skepticism about obtaining a degree. In the United States, college tuition and fees have increased by 32-45% over the past 20 years, and the average cost of a bachelor's degree now exceeds $38,000 (about 53 million KRW). The total amount of student loan debt has reached approximately $2 trillion (about 2,764 trillion KRW). According to the US data research institute Education Data Initiative, for humanities majors such as psychology, philosophy, and English literature, it may take more than 20 years of employment to recoup the cost of obtaining a degree.

As the financial burden of obtaining a degree grows, companies are also changing their hiring criteria. More than half (52%) of job postings in the United States now do not specify educational requirements. As a result, practical skills-based education, job-based certifications, and vocational schools are emerging as realistic alternatives.

However, some argue that the value of a college education should be viewed from a long-term perspective. Sean Lyons pointed out, "If you judge the value of college based only on your first paycheck or job right after graduation in a tough economy, you are bound to be disappointed." He added, "Nevertheless, college graduates still have higher average incomes and lower unemployment rates compared to high school graduates," emphasizing that a college degree remains a meaningful asset in the long run.

Tuition Burden Rises in Korea as Well... 7 Out of 10 Universities Raise Fees

Meanwhile, the burden of college tuition continues to grow in South Korea as well. According to the "April 2025 University Information Disclosure" released by the Ministry of Education last month, 136 out of 193 four-year universities nationwide (including education universities), or 70.5%, raised their tuition this year. As a result, the average annual tuition burden per student rose to 7,106,500 KRW, an increase of 277,000 KRW from the previous year. By university type, the average was estimated at 8,002,400 KRW for private universities and 4,238,900 KRW for national and public universities.

Despite this economic burden, unlike in the United States, Korean society still perceives college entrance as highly necessary. This is because college is still considered an essential gateway to employment or entering society. According to a survey on "perceptions of college entrance" conducted by Korea Research's "Public Opinion in Opinion" last year among 1,000 adults, 69% of respondents said, "Going to college is necessary in our country." The perception that "college entrance is necessary" has consistently remained above 65% since 2021, and regardless of gender, generation, or educational background, at least two out of three people believe that going to college is necessary.