The Rising Tide: Examining College Degree Attainment in the United States

For decades, Americans have viewed college education as a key to upward social mobility. This belief has fueled a significant increase in the percentage of Americans with college degrees. Recent data from the Census Bureau confirms this trend, demonstrating the enduring value placed on higher education despite recent challenges and disruptions.

The Growing Number of College Graduates

The Census Bureau's educational attainment data reveals a substantial increase in the number of Americans holding a bachelor's degree or higher. The number of people with a bachelor’s degree or higher increased by nearly 8% in this time frame. This data indicates that universities have successfully navigated economic uncertainties, the complexities of remote learning, and broader concerns about the educational pipeline. Americans are clearly prioritizing college, and the numbers reflect this. When accounting for children, the percentage of Americans with college degrees is at a healthy 31.3%.

Public Perception of College Education

The perception of a college education's value extends beyond mere statistics. Surveys indicate that Americans view college as equally or more important than they did two decades ago. These were the findings of a survey summarized in a recent Gallup article analyzing Americans’ views on the importance of a college degree now vs. 20 years ago. This sustained belief highlights the enduring importance of higher education in the eyes of the public.

The Tangible Benefits of a College Degree

The perception of the use-value of a college education is far from a figment of the national imagination. The advantages of holding a college degree are evident in employment prospects and earning potential. The Association of Public & Land-Grant Universities (APLU) has summarized the various advantages that college degree holders enjoy. Drawing on the research of economists, the APLU describes how a degree improves graduates’ employment and earnings potential. College graduates are also significantly less likely to experience poverty. Those who pass through college are also 3.5 times less likely to fall below the poverty level. All graduates of college enjoy a median income that is $36,000 more than peers who forego college degrees.

The difference in earning potential is significant even early in one's career. Those who recently obtained a bachelor’s degree have a median income of $52,000. Meanwhile, high school graduates the same age can expect median earnings at around $30,000. Degrees have become prerequisites for entering a variety of desirable job fields. According to Liberty Street Economics, the blog of the Federal Reserve Bank of New York, over 60% of college graduates work in jobs requiring college degrees. Their research finds that the percentage is even greater in densely populated metropolitan areas like New York or Chicago.

Read also: GPA Conversion Guide

Degrees vs. Majors: What Matters Most?

Simply having a degree has come to mean more than what graduates majored in. In general, degrees refer to credentials obtained from completing associate, bachelor, master, and doctoral programs. Regardless of whether one majors in humanities, STEM, or social science fields, they earn one of those degrees upon graduation. Recently, a writer for Forbes has asserted that the topic or major of college degrees is irrelevant. They base this on the fact that only 27% of graduates work in a job that relates to their major in any way.

It is important to note that attending college is not the same as graduating with a degree. The former does not carry the overwhelming advantages afforded to degree credentials. Thus, it can be valuable for prospective students to investigate the retention and graduation rates at universities before applying.

Current Statistics on College Degree Attainment

As previously stated, around 44% of Americans 25 and older have attended college and completed their degree programs. The majority of these degree-holders possess a bachelor’s degree; 35% of those over 25 have a bachelor’s degree or higher. The percentage who have attained only an associate’s degree is significantly lower, sitting at just under 9%. Meanwhile, about 26% have high school degrees only and just over 19% have some college experience but no degree.

Disparities in Educational Attainment

Census data also points to discrepancies in terms of sex, race, and nationality in who attains college degrees. In 2022, 39% of women over 25 had at least a bachelor’s, compared to 36.2% of men. Notably, there remain significant gender disparities in certain STEM fields that lead to some of the highest-paying jobs.

Immigrants in general representing a greater share of those with master’s, professional, or doctoral degrees. The percentage of degree holders has increased across racial and ethnic groups. degree holders. Black and Hispanic populations, 27.6% and 20.9% had a bachelor’s degree or more in 2022, respectively. In both cases, these percentages are above what they were 10 years before by around 6%. However, both figures are well below the percentages of the non-Hispanic white and Asian populations who have degrees. These groups have also seen a 6 percentage point increase in the number of people with degrees. The Census results further indicate disparities in increases to average nominal earnings between degree holders in these different ethnic groups. Non-Hispanic white workers with a bachelor’s degree saw the largest average increase in wages.

Read also: Decoding Grade Distribution

These disparities across sex, nationality, and especially race have contributed toward a common perception that not all Americans have access to quality, affordable education after high school. The previously cited Gallup article indicates that only 23% believe all or most Americans have access to college. Additionally, the Pew Research Center holds that high tuition costs have become a focus of bipartisan concern about college accessibility. While Republicans and Democrats often have very different views about college, majorities of both parties agree it is too expensive. Most regard college as incredibly important for career success, and also think college should become more equitable, affordable, and accessible.

The Importance of Continued Progress

Both perspectives are supported by the numbers. Evidence shows that college has an enormous impact on career and earning potential. It also reveals that many are held back from this tool of social mobility. Given this, it is vital to continue to bolster the percentage of Americans with college degrees across all demographics. Stakeholders can approach this by strengthening the education pipeline, improving retention and graduation rates, and dealing with rising tuition costs. It is a good sign that more people are getting college degrees.

The Evolution of the Bachelor's Degree

In the modern job market, the significance of a bachelor’s degree cannot be overstated. The importance of a bachelor’s degree in today’s job market has grown exponentially, becoming a foundational stepping stone for many aspiring professionals. Over the years, the evolution of the bachelor’s degree has mirrored the changing demands and expectations of employers, educators, and students alike.

The origins of the bachelor’s degree can be traced back to ancient educational institutions, where the title “baccalaureus” was bestowed upon scholars who had completed their initial phase of studies. Over the centuries, this academic recognition evolved, adapting to the socio-economic and cultural shifts of different eras. In the modern context, the bachelor’s degree has become a symbol of academic achievement and a prerequisite for many professional endeavors.

Types of Bachelor's Degrees

BA (Bachelor of Arts): Typically awarded in the fields of humanities, arts, and social sciences.
BS (Bachelor of Science): More common in technical, scientific, and mathematical disciplines.
BFA (Bachelor of Fine Arts): Reserved for students pursuing artistic and creative disciplines such as visual arts, theater, and dance.

The decision to pursue a bachelor’s degree is often driven by a combination of personal aspirations and practical considerations.

Read also: Understanding GPA and Percentages

Online Education: A Modern Avenue to a Degree

The dawn of the digital age has brought with it a revolution in education. The rise of online education, especially in the realm of online bachelor’s degrees, is a testament to the changing dynamics of learning in the modern era. Online education has witnessed an unprecedented surge in the last two decades. With advancements in technology and the increasing need for flexibility, many students and professionals are turning to online platforms to further their education.

Key Trends and Statistics

Overall Attainment: The national education attainment rate among adults 25 to 64 years old reached 54.3 percent in 2022, the most recent year for which data are available. The proportion of working-age adults with college degrees rose from 45.7 percent in 2021 to 46.5 percent in the 2022 data, the most recent year available.
Lumina Foundation's Goal: In 2008, Lumina issued a national call for 60 percent of adults in the United States to have college degrees or other quality credentials beyond high school by 2025 to meet labor-market demand and ensure the country’s global competitiveness.
Progress Since 2008: The share of working-age Americans with degrees or credentials of value beyond high school has been rising. The proportion of working-age adults with at least an associate or bachelor’s degree has risen by 9 percentage points since 2008 to its current level of 47.1%.
State-Level Attainment: Five states - Colorado, Massachusetts, Utah, Minnesota, and Connecticut - and the District of Columbia have all now achieved or surpassed the 60% postsecondary attainment threshold.
Racial and Ethnic Attainment: Educational attainment has increased across all races and ethnicities. Black attainment has increased by nearly 10 percentage points since 2008, while Hispanic and Latino attainment has grown by more than nine points. White attainment has been steadily improving and now stands at 52%, while Asian attainment tops 67%. Native American attainment is the lowest among racial/ethnic groups at 26%, but it has also increased since 2008.

Factors Influencing Educational Attainment

Gender: In a reversal, women are now more likely than men to graduate from college, according to the Current Population Survey. In 2021, 39% of women ages 25 and older had a bachelor’s degree or more education, compared with 37% of men in the same age range.
Affordability: Women (44%) were more likely than men (39%) to say not being able to afford college was a major reason they don’t have a bachelor’s degree. Among adults without a bachelor’s degree, Hispanic adults (52%) were more likely than those who are White (39%) or Black (41%) to say a major reason they didn’t graduate from a four-year college is that they couldn’t afford it.
Motivation and Perceived Need: In an October 2021 Pew Research Center survey of Americans without a degree, 34% of men said a major reason why they have not received a four-year college degree is that they just didn’t want to. Only one-in-four women said the same. Men were also more likely to say a major reason they didn’t have a four-year degree is that they didn’t need more education for the job or career they wanted (26% of men said this vs. 18% of women).

The Earnings Gap and Underemployment

Earnings Gap: In 2021, full-time workers ages 22 to 27 who held a bachelor’s degree, but no further education, made a median annual wage of $52,000, compared with $30,000 for full-time workers of the same age with a high school diploma and no degree, according to data from the Bureau of Labor Statistics.
Underemployment: As of December 2021, 41% of college graduates ages 22 to 27 were underemployed, compared with 34% among all college graduates.

First-Generation College Graduates

When it comes to income and wealth accumulation, first-generation college graduates lag substantially behind those with college-educated parents, according to a May 2021 Pew Research Center analysis. Households headed by a first-generation college graduate had a median annual income of $99,600 in 2019, compared with $135,800 for households headed by those with at least one parent who graduated from college. The median wealth of households headed by first-generation college graduates ($152,000) also trailed that of households headed by someone with a parent who graduated from college ($244,500).

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