More than half of American workers regret college degrees


SAN FRANCISCO (KRON) – Two-thirds of American employees have regrets when it comes to their advanced degrees, according to a new survey by employee compensation research firm PayScale.

The study was based on 248,000 respondents surveyed between April and May of this year.

Among those holding a bachelor’s degree or higher, 66.1% said they expressed having regret about their college education, while 33.9% reported having no regrets.

Those surveyed were also prompted to pick from a list what their biggest regret is about college.

The top regret was student loans, with 27.1% voting. 12.2% said area of study, while 11.2% voted poor networking.

Other regrets on the list included time to complete college (5.8%), academic underachievement (5.2%) choice of school (3.4%).

The findings varied by generation, however.

Baby Boomers were the only group surveyed in which a majority claimed to have no regrets about college (51.3%).

37.3% of Generation X vote they had no regrets.

Millennials was the group with the highest regret.

The statistics also varied according to one’s major.

A total 42% of engineering majors said they had no regrets, while 37.3% of education majors and 34.9% of computer science majors saying the same.

26.9% of social science majors and 25.2% of humanities majors responded as having no regrets.

Students loans were at the heart of the largest regret in each education level.

According to PayScale, total student loan debt is approaching $1.6 trillion in 2019, surpassing credit card debt.

A 2019 study shows the Federal Reserve found the average student loan debt between 2005 and 2014 has doubled among individuals between ages 24 and 32.

>> Click here to learn more about the study.

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