WASHINGTON, D.C. -- Fewer than one in five current or prospective U.S. college students (18%) believe four-year colleges charge fair prices for what they offer students, while a majority (59%) disagree. Attitudes toward the prices of two-year colleges are more positive, although less than half (40%) still say these colleges charge fair prices.
These results are from the Lumina Foundation-Gallup 2025 State of Higher Education Study, conducted via web Oct. 2-31, 2024. The survey is based on 13,933 current and prospective college students aged 18 to 59 who have not completed a degree program. The study includes U.S. adults who are currently enrolled, have been enrolled but stopped taking courses toward a degree/credential, or have never been enrolled. Respondents were recruited from an opt-in online panel.
Associate Degree Students More Positive About College Costs
Despite concerns about the fairness of college prices, currently enrolled students are more positive about their own institution’s performance in containing costs. More than six in 10 associate degree students and over four in 10 bachelor’s degree students rate their college as “excellent” or “good” in this regard. Only 12% of associate and 28% of bachelor’s degree students say their college is doing a poor job controlling costs.
Most Say the Investment in College Pays Off Within Five Years
Over half of current or prospective students (58%) believe it takes five years or less for a college graduate’s investment to pay off once they leave college, and the vast majority (86%) believe it happens within 10 years. While currently enrolled students are slightly more positive about seeing a return on the college investment than those who have stopped taking courses or have never enrolled, majorities of all subgroups believe the investment pays off within five years.
Younger people are slightly more positive about the total time required to realize degree value. Attitudes about value are consistent across political parties, despite the fact that Republicans tend to be less confident in the institution of higher education. The question does not distinguish between the type of degree (i.e., a two- or four-year degree) and instead asks U.S. adults without a degree/credential to reflect upon the time it takes for a college investment to pay off, on average.
Bottom Line
While most current and prospective college students are skeptical about whether four-year institutions charge fair prices, the majority still believe a degree pays off relatively quickly -- within five years of completion. This optimism persists despite widespread concerns about affordability, as Gallup’s prior research has shown that cost is the top reason currently enrolled students consider stopping out and the primary barrier for those who have never enrolled.
At the same time, most students see their own institution as doing at least a fair job of containing costs, particularly at the associate degree level. These findings highlight the tension between perceived high prices and an enduring belief in the long-term value of a college education -- an equation that continues to shape students’ decisions about whether and where to enroll.
Learn more about the Lumina Foundation-Gallup 2025 State of Higher Education Study.
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