Fewer Americans see a four-year college degree a pathway to economic security than they did 20 years ago. That’s according to a range of national polls that show rising skepticism about cost, declining confidence in higher education, and a growing belief that good jobs can be reached through alternatives.
In a 2023 Pew Research Center survey, nearly half of U.S. adults said a four-year degree is less important today for getting a well-paying job than it was 20 years ago. About a third said it is more important, while 17% said it is about as important. Pew also found only 25% of adults described a four-year degree as “very important” for getting a well-paying job today.
The shift shows up in longer-running trend questions as well. Gallup, which has tracked Americans’ views about the importance of a college education, reports that the share calling college “very important” fell dramatically from 75% in 2010 to 35% in 2025. Over the same period, the share saying college is “not too important” rose from 4% to 24%.
The rising cost of higher education appears to be a central driver of the change.
Pew found that while many adults still see value in college, they draw a bright line around debt: 22% said college is worth the cost even if loans are required, but 47% said it is worth it only if the student can attend without taking on loans. Another 29% said college is not worth the cost.
The loss of confidence in the need of a college education is one of many challenges that university leaders are facing including the rise of artificial intelligence, campus protests, budget strain and partisan scrutiny.
Psychologist and former college president Beverly Daniel Tatum argues that higher education can still function as a stabilizing public institution if its leaders are willing to lead with clarity and “backbone.”
Tatum’s new book, “The Peril and Promise: College Leadership in Turbulent Times,” arrives amid rising turnover in campus executive suites. A national survey by the American Council on Education found presidents had been in their current jobs an average of 6 years in 2022, down from 8 years in 2006. Tatum suggests that the role has become both more visible and more volatile.
Drawing on her tenure as president of Spelman College from 2002 to 2015 and later work as interim president at Mount Holyoke College, Tatum describes the presidency less as a principalship than “the mayor of a town,” responsible for everything from governance and fundraising to crisis management and community trust.
The “peril” side of her argument centers on what she depicts as an erosion of public trust in universities, intensifying pressure on academic freedom and speech, and a campus climate in which students and faculty may fear being “publicly wrong.” She also examines how leaders navigate contentious slogans and protest tactics while maintaining a functional learning environment.
But Tatum insists there is also “promise” —universities as a public good that supports democracy, international understanding and problem-solving. She offers an inclusion framework—her “ABCs” (Affirming Identity, Building Community, Cultivating Leadership)—and highlights interventions that improve student success, including proactive, data-informed advising models.
Guest:
Beverly Daniel Tatum, Ph.D. is the author of "Peril and Promise: College Leadership in Turbulent Times." She is the former president of Spelman College and Mount Holyoke College.
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This episode will be recorded on Tuesday, December 16, 2025, at 12:00 p.m.
