Is College Worth the Debt? More Consumers Say No

The survey found, however, that paying back student loans might appear to be worse than it is. Almost two-thirds of respondents in 2012 said they were having a hard time paying back their loans. That fell to 42% in 2014. The 2012 respondents were also more likely to worry that their student loan debt would prevent them from getting a mortgage than the 2014 respondents.

“I was kind of surprised by that, frankly,” Kaiserman said. “I’m sure it has to do with the economy and [how] it’s a little bit better. It feels better for a lot of people.”

Eleven percent of respondents said their student debt was between $50,000 and $100,000, according to Kaiserman, and 16% said they had debt between $10,000 and $50,000. More than half said they had no student loan debt, but that fell significantly from 2012, when 81% of respondents reported no debt, Kaiserman said.

Mintel noted that while tuitions and fees are still increasing, the rate is slowing. The rate of increase for in-state tuition and fees at four-year public institutions rose only 2.9% for the 2013-14 year, down from 4.5% in 2012-13 and 8.5% for 2011-12. The current increase is the smallest it’s been in 30 years, according to Mintel.

Although price increases are slowing down, enrollment has fallen. For the 2013-14 school year, enrollment fell 1.5% from the previous year, according to the National Student Clearinghouse, after falling 2% for the 2012-13 year.

“It’s not so much whether the college education is worth it, but whether the individual school is worth it. Is it worth it to spend $250,000 versus whatever your state university costs? Or is it better to go to the community college for two years then transfer to the four-year school? There’s a lot more conversation around that.”