Americans Shift Away from Traditional Higher Education as Costs Rise…

Event summary

70% of Americans are rethinking higher education due to rising costs, with 30.4% favoring trade or technical schools for better financial returns.
Only 20.6% believe a higher education degree is clearly worth the cost, while 43.9% see weaker financial returns on graduate degrees compared to a decade ago.
61.7% of respondents are more likely to consider lower-cost education options like community colleges or trade schools.
51.4% of respondents find it extremely or very important for banks to offer dedicated education savings products, but only 24.4% currently use such services from their banks.

The big picture

The survey highlights a significant shift in how American families perceive the value of higher education, driven by rising costs and skepticism about financial returns. This trend presents both challenges and opportunities for financial institutions, which are increasingly seen as critical partners in navigating the complexities of education financing. The data underscores the need for tailored financial products and guidance to support families in making informed decisions about their educational investments.

What we're watching

Education Financing Trends: How the shift toward trade and technical schools will impact traditional higher education institutions and their funding models.
Banking Opportunities: Whether financial institutions can capitalize on the growing demand for education-focused savings and guidance products.
Debt Planning Gaps: The pace at which families will address the lack of preparedness in student loan debt planning, particularly as costs continue to rise.