Remember the days when choosing the right college centered on the faculty, curriculum, or prestigious reputation? A new study suggests those days are over.
Today’s college applicants are more concerned with how much debt they will accrue when deciding what school to attend, according to a new survey by Princeton Review.
Thirty-nine percent, the plurality of respondents, said that they were most concerned that their degree and the college they choose not sink them into insurmountable debt. Previously, applicants were more concerned with not being able to afford their dream schools. Eighty-nine percent of respondents classified financial aid as “very” necessary, with 66 percent saying it is “extremely necessary.”
Such data points to a looming job market and economy that devalues a college degree, as many graduates from some of the country’s top schools still struggle to find work or are critically underemployed. More recently, colleges have been called by President Barack Obama and credit reporting agency Moody’s to cut student costs while improving operating efficiency.