On my Twitter feed one morning last week, this story made the rounds. One-third of Millennials (aged 22-32) regret having gone to college. We can expect this finding to become a part of the “higher education bubble” story, which goes like this. Thanks to increasing worries about student loan debt, high tuition, and the difficulty even college graduates have on the job market, students and parents are seeing more and more that college isn’t worth it. As a result, we can expect to see a radical transformation of the higher education sector, which will be conquered by nimbler, cheaper, online alternatives. I have written about the bubble argument here.
The pressures on brick-and-mortar colleges that bubble enthusiasts identify are real. But they have been sensationalized. It is simply not true that one-third of Millennial graduates regret having gone to college.
That number comes from a survey, commissioned by Wells Fargo, and conducted by Market Pro, Inc., comparing the views of Millennials and Baby Boomers (aged 48-66). Alas, the survey is not available online, but I was able to obtain a copy from Wells Fargo.