87% in New Poll Say Cost an Important Reason For Halting Studies

A new Gallup survey released Tuesday found cost and work conflicts are the top reasons Americans choose to discontinue their higher education. From a report: In the poll, 87 percent said cost was a "very" or "moderately" important reason for pursuing further institutional study, while 81 percent pointed to work conflicts. The other two leading reasons were the time it takes to complete a degree at 73 percent and lack of remote options at 70 percent. Cost tops the list among all demographic groups, including across racial and ethnic lines. "For many of these Americans, their time enrolled in these courses represents significant opportunity costs and financial investment. Given that they lack a degree or credential to show for their time enrolled, they are often worse off than if they never enrolled to begin with," Gallup said. Colleges prices have been surging for decades, with some estimating a 180 percent increase between 1980 and 2020. The cost of Ivy League schools is nearing $90,000 a year, and the average student debt held in the U.S. sits around $30,000. "Today, approximately 41.9 million Americans have some college experience but no degree or credential. The percentage of Americans who have taken some college courses, but who have stopped out and not completed their degree or credential, has increased significantly over the past five years," Gallup found.

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