Two-thirds of high school students think they will be just fine without a college degree, and nearly half of parents say they would rather not send their kids to a four-year college, even if money were no obstacle. For three generations, “college for all” was the default answer to what comes after graduation.

In the Wall Street Journal article, Why Americans Have Lost Faith in the Value of College, Douglas Belkin traces how rising costs, underemployed graduates, and universities slow to adapt have weakened the payoff of a degree, to the point that for every five students who enroll in a four-year college, only two will graduate and find a job based on their degree.

Students on the quad at Amherst College, August 2023 [Image credit: Pete Kiehart for WSJ]

Click these links to access the article, student guide, and answer key

Wall Street Journal Article | NGPF Student Reading Guide + Answer Key

Reading time: ~12 minutes (2,585 words)

Discussion Questions

Use these to spark conversation after students read:

1. The article says two-thirds of high school students think they’ll “be just fine without a college degree.” What factors would you weigh when deciding whether a four-year degree is worth it for you personally?
2. Economist Bryan Caplan argues that cheating is a “rational choice” when a degree’s value is tied to the credential rather than the education. Do you think that’s a fair argument?

This reading pairs well with NGPF’s Alternatives to 4-Year Colleges Unit.

This resource was created through NGPF’s partnership with Dow Jones, bringing high quality financial journalism into personal finance classrooms across the country for free.

Every WSJ Wednesday, NGPF will highlight a classroom-ready article, video, or data crunch resource from the Wall Street Journal, MarketWatch, or Barron’s, including a student guide, discussion questions, and an answer key.

About the Author

Yonathan Tadesse

Yonathan is a Dallas-based Curriculum Designer at NGPF with 12 years of experience as a high school math, college transition, and financial literacy teacher. An award-winning educator, he has a track record of launching innovative programs at the high school level that expand access and opportunity for students. He is a graduate of Emory University and is passionate about advancing financial education for all students. Outside of work, Yonathan loves spending time with his wife and two kids, working out, playing chess and poker, and learning new things.

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