While having a college degree has traditionally been a hallmark of success in America, a new online study from PayScale offers insights as graduates in the workforce weigh in on their biggest regrets after pursuing higher education.
A third of those surveyed–34 percent–say they have no regrets about getting their degrees while 27 percent said their top regret was taking out college loans.
Currently, there is more than $1.6 trillion in student loan debt impacting Americans. More than a quarter of millennials–29 percent–regret their loans as opposed to 26 percent of members of Generation X surveyed and 13 percent of Baby Boomers. There was a major gap over student loans between those who attended private and public schools. Around a quarter of graduates of public schools–24 percent–called student loan their top regret from pursuing a college degree while 34 percent of those who attended private schools said student loan debt was their leading regret.
Only 12 percent of college graduates regret their major or area of study including 21 percent of humanities majors, 18 percent of physical and life science majors and social science majors and 17 percent of education and communications majors. Only 4 percent of computer science majors regret their degree choice while 8 percent of engineering majors regret theirs.
While 11 percent regret how they networked in school, only 3 percent regret what school they attended and even fewer–1 percent–regret pursuing too many degrees. Still, graduates who pursued law degrees and masters degrees, including MBAs, had more regrets about their loans than graduates with bachelors degrees and PhDs.
Reach Ed Dean at [email protected].
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