Dive Brief:
- Around two-thirds of incoming college seniors said college has significantly contributed to their ability to land a well–paying job, according to a new survey from job platform Handshake.
- A slightly higher share, 72%, said higher education has appreciably improved their ability to secure a meaningful job. And 85% of surveyed seniors said college significantly helped them understand their own career goals.
- College seniors also indicated that higher education has helped them beyond their career development. According to the survey, 88% said college significantly contributed to their personal growth.
Dive Insight:
While Handshake’s survey suggests most college students believe higher education boosted their professional and personal growth, those polled don’t necessarily feel confident about their post-college plans.
More than half of surveyed students, 57%, said they “feel pessimistic about starting their careers,” according to the report. Nearly two-thirds cited competition for jobs as one factor contributing to their negative outlook.
“Concerns about competition are largely justified,” the authors of Handshake’s report wrote. Job creation on Handshake’s own platform is lower than it was last year — aligning with national trends, according to the report.
Indeed, hiring sharply declined in July, and the unemployment rate — currently at 4.3% — has reached its highest level in roughly three years.
New data released this week from the Bureau of Labor Statistics’ also indicated that there were roughly 818,000 fewer jobs in March than initially reported, suggesting that job growth has been cooler than previously estimated.
Surveyed college students reported taking several steps to stand out from their competition. More than two-thirds, 68%, said they’re attending career fairs and networking events, while 63% said they’re applying for more jobs.
Students are also working toward bolstering their resumes.
Roughly 6 in 10 surveyed students said they’re working part time during their senior year or pursuing internships. Nearly half, 48%, said they’re participating in student organizations, while 36% said they’re taking additional classes.
Student loan debt is also weighing on the minds of college seniors.
Of surveyed students graduating with student loans, 54% said it is “a major source of stress.” That share rises to 61% for both Black students and first-generation students who borrowed money for college.
Handshake’s survey found the class of 2025 largely supports federal student loan forgiveness, with nearly two-thirds indicating that it should be a top government priority.
However, the Biden administration’s debt relief efforts have repeatedly run into roadblocks.
Earlier this month, a federal appeals court blocked the Saving on a Valuable Education plan while it considers a legal challenge against it. The plan promises loan forgiveness to borrowers who initially took out $12,000 or less and made a decade of payments.
Handshake’s survey is based on 1,925 responses from college students pursuing bachelor’s degrees who use the company’s platform. The survey was administered from June 14 to July 5 and is weighted by gender and race and ethnicity.
