4 Lessons on What Makes a College Degree Worthwhile

What makes a college degree worth the investment? For students and families evaluating the costs and benefits of higher education, the answer may depend on more than tuition prices, future earnings or career prospects.

Recent research suggests that students find value in their college experiences in ways that extend beyond financial returns, even as questions persist about affordability and whether earning a degree delivers on its economic promise. Meanwhile, higher education leaders are working to strengthen student outcomes and demonstrate the worth of their institutions. 

Here are four lessons from Inside Higher Ed’s Student Success coverage on what makes a college degree worthwhile.

1. Value extends beyond earnings.

Students may assess the value of their college experience through a broader lens than financial returns and career preparation, according to a new report from Qualtrics and Buro Happold that finds personal growth, relationships and belonging among the qualities students value most.

Based on a spring 2026 survey of 1,007 U.S. college students, researchers found that 74.2 percent of respondents reported receiving high or exceptional value from the sense of purpose and personal growth they experienced in college, the highest among nine dimensions of the college experience. Economic return ranked lowest at 66.2 percent, even as concerns about college costs and career outcomes continue to dominate debates about the payoff of higher education.

For Elliot Felix, a partner at Buro Happold and co-author of the report, the findings highlight the importance of understanding what students hope to gain from their college experience beyond the classroom.

“If you think about college, it’s a time for students to find their place, their people and their purpose,” Felix said. “Students are looking for value, and at the same time, they don’t want to measure it purely in terms of dollars and cents.”

2. Financial returns aren’t guaranteed.

Roughly 43 million Americans have some college credits but no credential. Re-engaging these adults could expand economic opportunities, but new research suggests the financial benefits of completing a degree vary considerably for those who return to college.

A report from California Competes examines the return on investment of a college degree among adults who previously stopped out and later graduated. Drawing on interviews with 27 California adult learners, researchers explored the financial, personal and social benefits of completing a degree, as well as the costs associated with returning to college.

About half of the graduates interviewed saw their earnings increase within three years of completing their degree, particularly those who returned with clear career goals. One graduate went from earning $10 an hour as a cleaner at a nursing facility to more than $100,000 annually as a nurse. But graduates in rural communities described more limited financial gains because of fewer local job opportunities.

Emi Fujita-Conrads, a researcher at California Competes and author of the report, said the findings underscore the importance of earlier career advising and better information about regional labor markets.

“Adult learners really need clear and early career guidance,” Fujita-Conrads said. “Students are getting career guidance, but it often arrives too late to make informed choices.”

3. The true cost of college isn’t always clear.

As students and families increasingly question the value of higher education, understanding the full cost of earning a degree has become an important part of the affordability discussion.

Federal law requires colleges to include estimated housing, food, transportation and other living expenses in their published cost of attendance. These allowances help determine financial aid limits and underpin measures such as net price and unmet need, but new research suggests they can vary considerably among institutions.

A recent report from the Hildreth Institute compared published living-cost allowances at 5,235 colleges against consistent external benchmarks based on local housing, food, transportation and other expenses. Researchers found that colleges serving students in the same local markets often publish markedly different estimates, making it harder for students and families to compare college costs and assess affordability.

Bahar Akman Imboden, managing director at the Hildreth Institute, said inaccurate or inconsistent estimates can affect students’ access to financial aid and ability to cover essential expenses.

“Colleges aspire to appear affordable,” said Akman Imboden. “College affordability cannot just be measured on whether students perceive college to be affordable at the time of entry. It must also account for whether that student has the resources to persist and complete.”

4. Higher ed leaders must demonstrate value through action.

As colleges and universities face growing scrutiny over the value of a degree, higher education leaders are pushing back against skepticism, arguing that student success has long been an institutional priority, even if those efforts aren’t always visible to the public.

Against that backdrop, five higher education associations recently launched the National Student Success Project, an initiative that brings institutions together around five commitments to help students succeed both during and after college.

Supported by the Strada Education Foundation, the initiative has attracted more than 50 colleges and universities as initial participants. Its five commitments focus on delivering strong value for students’ investments, creating clear and affordable pathways to credentials, advancing academic excellence, strengthening career preparation, and fostering supportive campus communities.

Ted Mitchell, president of the American Council on Education, said the project isn’t intended to establish a universal definition of student success, but rather identify and address the barriers that prevent students from achieving it.

“What we’ve fashioned is an action plan, not around defining student success—that’s up to all of our campuses—but defining the things that stand in the way,” Mitchell said. “Those five commitments represent doorways that we need to open for students so that they can prosper and they can achieve success.”

Get more content like this directly to your inbox. Subscribe here.