Most people go into their degrees, hoping it’ll be the golden ticket to well-paid office jobs after graduation day—especially given the sheer amount of hours and thousands of dollars (or pounds, in my case) they’ve committed to getting the qualification. But past college grads have a brutal reality check for bright-eyed Gen Z: It wasn’t worth it. At least, from a financial standpoint.
A staggering 30% of graduates across all generations have admitted that they’re not better off financially thanks to their degrees. In fact, the Nexford University report highlights that many are actually worse off.
The majority of graduates say they took out $25,000 to $49,999 in student loans, but a quarter owe more than $50,000—and they’re still paying for it years and years after tossing their graduation caps into the air.
A third of grads are drowning so much in debt that they’re having to delay saving for their first home, and even retirement for a decade on average.
Instead of their degree being the launch pad for a successful life and career, some 14% admit they had to delay moving out of their parents’ house and starting a family because of hefty student loads.
