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College degrees now have negative value for hiring. A company wanting to hire a reliable and competent worker will avoid college graduates.
1 in 8 incoming freshmen at UCSD (a leading institution in the states) cant solve "x + 5 = 3 + 7"... Why would I pay 30k a year or whatever it is to get a degree from somewhere like that?
I feel the same fallacies happen with money and degrees:

- People with more money live better lives, so let's just print/hand out money and everyone will live a better life!

- People with college degrees live better lives, so let's just push more people through college and everyone will live better lives!

In both cases, of course, completely missing the underlying reasons money/college degrees provide(d) better lives.

It's hard to believe that any single person in government truly thinks printing money will increase resources or that more easily handing out college degrees will automatically make everyone better off. So I don't fully understand how this happens, perhaps pandering to the electorate.

The pendulum swings. College was only for the elite. Then it slowly expanded until it got to the point of, “everyone should go to college, doesn’t matter what you study.” Now it’s swinging back. Hopefully we manage to get to a reasonable place and not go all the way back to college only being for elites.
Obviously if you want to learn, there has never been as many resources as today for free with YouTube and other stuff. College remains only relevant for the piece of paper and networking and the four-year party experience.
My kids will still go to a four-year university, but for the education and experience, not for any vocational aspirations. I have no delusions about the marketability of an undergraduate degree.

A happy side effect of that university degree was a more rounded education, which now many young adults will be missing out on. The downstream effects could be catastrophic.

Universities survived half a millenium being networking grounds for the upper class, and they will survive another millenium being networking grounds for the upper class

The last century will be a mere footnote in a case study of folly, where 100% of the university's problems came from dealing with the underclass at all with a side helping of federal funny money. It will be comedic relief amongst starry eyed business majors, waiting to satisfy a condition of their trust fund

The employment sector's decision to require degrees is mere happenstance and something that sector will need to reconcile on its own.

Better than asking "is college worth the cost," and getting into ROI calculations per major is asking "could we provide a similar (or better) educational and social experience at a fraction of the cost"? To that the answer is yes.
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I guess so mostly foreign students and the wealthier folks can get them? Doesn’t seem like a win, but with AI taking jobs, who knows
What's the point? You're either going to be replaced by AI or a robot (or both) anyway.
Employers just hire experienced h1bs instead, they won’t leave after being trained, no reason to hire an American
As the article says, this change in opinion has been very big and very recent. Don't expect universities to sit still and do nothing.

I see several possible reactions. One is to do what Georgia Tech and U Texas are doing -- to offer online degrees for MUCH reduced cost, like $10k. Will such 30 credit MS degree programs (that don't require BS first) replace 120 credit BS degrees? That makes a lot of sense to me.

The popularity of residential degree programs may be ending, due to insanely high cost and the need to retrain often as AI automation changes the employment picture rapidly and unpredictably.

Most of you here assume the "Human Capital" model (i.e. you pay to acquire skills), but that entirely misses the actual point of a college degree! 2001 Nobel Prize went for demonstrating that college is basically a quarter million dollar IQ and Marshmallow Test. It's a filtering mechanism that allows employers to tell who is smart and conscientious enough to be productive at work.

Offering education to more and more people via reduced cost mass online courses, lowering entry requirements or similar approaches will only erode the signalling value of a degree further.

I’d feel better about not recommending college for everybody if our high schools were more rigorous. I personally feel that the Advanced Placement and International Baccalaureate curricula should be the minimum for high schoolers to graduate, since an education at this level provides well-rounded knowledge that gives students the skills necessary to survive in a 21st-century developed economy.

However, many high school students don’t have the opportunity to take such classes, and there are also many high school students who struggled in elementary and middle school.

I was a high school student in California during the first half of the 2000s. California used to have the High School Exit Exam, which was mandatory to graduate from high school. The test focused on English grammar, reading comprehension, and algebra. I took the exam in 10th grade, and I felt it was easy. So easy, in fact, that I believed eighth graders shouldn’t have much difficulty passing the exam.

However, there were many students who weren’t able to pass the exam, even with multiple attempts. Eventually the state got rid of the test. I don’t know if educational outcomes improved in the immediate aftermath, but UC San Diego’s study on remedial math shows that our high schools are inadequate at preparing students not only for college, but for life in our modern economy.

Of course, to fix high schools, we also need to fix our elementary and middle schools. This goes beyond the classroom; this also involves addressing the cost-of-living crisis. It’s hard for kids to thrive in school when they have parents who need to work heroic hours to make ends meet, and this doesn’t include the kids who have to deal with homelessness and other unstable living situations.

No shit, half the people who got college degrees are in debt over it and mostly just lost out on prime years of their life doing busy work for little to zero benefit. Was my class about pre-colombian society interesting? Yes. Has that knowledge helped me in any way related to my job or career or life? No. It certainly wasn't worth the thousands of dollars it costs to take that class to meet some arbitrary requirements. I could of gotten the same knowledge and enjoyment from watching some youtube videos or reading the published book that class was 95% based on.
Doesn’t help when leaders are trashing it and classifying things as not “professional” to further put up more barriers to entry. Along with the constant attacks about them being indoctrination centers, pulling funding for being too liberal, or not pro-Israel enough, or whatever else this administration has officially been able to strongarm many institutions about.
Americans attend college as a (1) rite of passage and to some extent (2) to have access to an influence network of peers and alumni. For elite universities, it's conceivable that #2 provides some real opportunity.

But in general #1 dominates the dollars spent on this experience and it's really too bad.

Higher ed is like employer based health insurance in that they are both weird path dependent historical accidents.

People want cheap healthcare, and it got shoehorned into an odd employer fringe benefit system that really is not at all related healthcare in any intrinsic way.

People want job training, and it got shoehorned into extra departments at liberal arts universities intended as aristocrat finishing schools. Job training really has little to no relationship to liberal arts.

And now both those two systems are failing to deliver those benefits because those benefits which were initially afterthought add-ons have outgrown the institutions that were their hosts. It's akin to a parasitic vine that is now much larger than the tree it grew on and is crushing it under its weight. Both will die as a result.

Except of course for technical degrees: those skills are highly transferrable to many real life, money saving skills you can use your entire life (just kidding you will never own a home and would never want to work on your landlords house)
Higher education is very much alive in the rest of the world where we don't pay for it
In Argentina, electricity bill comes with an added fee for covering funeral costs insurance.
This is worrisome. College experience does provide unique benefits compared to self-learning.
They're wonderful but, yes, the cost is out of control.

Higher education delivers a fantastic ROI for the country as a whole. The people who benefit most from a strong economy are the wealthy. So tax them more. And put that money towards lowering the cost of education. Win-win-win.

I dropped out after my university added various "studies" courses to the required list.

I took just one such course—gender studies—which was utterly abysmal. There was zero tolerance for debating ideas or considering opposing viewpoints. You either assimilated with the group think, or you were castigated for your heresy. It was indoctrination, not education.