isworthit

Is a College Degree Worth the Money?

2024 data · Last updated 2026-07-05

The verdict

For most people, yes — the lifetime earnings premium and lower unemployment for a bachelor's degree are large, and a public in-state degree often pays back fast. But it hinges on your major, finishing the degree, and not overpaying: an unfinished or heavily-indebted degree in a low-ROI field can flip the math.

The trade-off

Typical cost
Public 4-yr in-state ~$39,000 tuition+fees (4 yr, NCES AY2022-23); private nonprofit ~$141,000
Typical outcome
BLS 2024: Bachelor's median weekly earnings $1,543 vs $930 for HS diploma — ~$31,900/yr premium (~$80,200 vs ~$48,400 annualized); unemployment 2.5% vs 4.2%
Breakeven
Public degree often breaks even in <2 yr of the earnings premium; heavily dependent on major, completion, and debt

What changes the answer

  • major/field ROI
  • completion (dropout risk)
  • debt load
  • public vs private cost
  • opportunity cost

Pros & cons

Pros

  • Large median earnings premium over a high-school diploma
  • Meaningfully lower unemployment rate
  • Opens doors to careers that require a degree
  • Public in-state cost often pays back quickly
  • Broader long-term career optionality

Cons

  • Debt can be crushing at private/full-price schools
  • Dropping out means cost without the earnings premium
  • ROI varies enormously by major
  • Four years of opportunity cost
  • The premium is an average — not guaranteed for everyone

Who it's for

✓ A good fit if…

  • People likely to finish in a solid-ROI field
  • Those who can attend affordable public schools
  • Anyone targeting a degree-required career

✗ Probably not if…

  • People at high risk of not finishing
  • Those taking heavy debt for a low-ROI major
  • Anyone with a strong non-degree path already

What people are actually asking

Real Reddit discussions on whether College Degree is worth it — titles link to the original threads.

FAQ

Is college still worth it?

On average yes — bachelor's holders earn far more and face lower unemployment than high-school graduates, and a public in-state degree often pays back within a couple of years of the earnings premium. But it depends on finishing, your major's ROI, and not overpaying with debt.

Sources