This is a crucial time for the American university system. Colleges and universities, both public and private, are grappling with their place in a changing world. Costs are skyrocketing, as is student loan debt. Technology threatens to undermine the educational experience through AI cheating while devaluing many degrees in the workplace. Some campuses have become literal political battlegrounds, and many question the federal government’s role through the Department of Education. Amid the tumult, these institutions must prepare for a future that looks uncertain, with a clear idea of who they are and why they exist. Is college a financial investment meant to improve career prospects? Or do universities answer a higher calling? —ETHAN BAUER
Do the math
The college and university system is an investment in human potential for both students and society at large. And like any investment, it should not only pay for itself but yield a financial return to any of these investors. Institutions of higher education are duty-bound to adapt in order to protect that investment as costs continue to spiral and the economy changes too quickly for most of us to keep up. Society needs these schools to prepare young people who can compete in the modern age, with specialized knowledge in fields that are valued in the marketplace.
Students would surely agree, since the main reason most of them endure to graduation is to improve their future incomes. According to a 2023 survey by Anthology, a private company that builds digital platforms for educational institutions, 59 percent of college students stayed in school to pursue higher earning potential; 45 percent enrolled in the first place to access better job benefits like health insurance and maternity leave. Students expect to emerge from their universities prepared to compete and thrive in an increasingly difficult labor market.
Unfortunately, they are more likely to graduate with a burden of debt that will follow them throughout their adult lives. The average federal student loan balance today is close to $40,000. In aggregate, their burden is approaching $2 trillion, a massive and concerning debt bubble that could impact the entire economy. Meanwhile, recent years have seen a variety of educational fields fall from favor in the marketplace, from expected declines in arts and the humanities to shockers like engineering and computer science. Students shouldn’t be weighed down with debt for degrees that are losing value.
There may be no obvious solutions. Perhaps the country should invest more in vocational programs. “Welders make more money than philosophers,” as Secretary of State Marco Rubio said in 2015. “We need more welders and less philosophers.” Or maybe universities should trim general education requirements to let students focus on developing expertise in their chosen fields. Highly specialized degrees could be more narrowly targeted and, therefore, cheaper. Either way, we must accept that higher education today exists as professional training first; anything else is a luxury that few can afford.
Character counts
Higher education has always been about our future as a society, an effort to develop not just better workers but more complete human beings. A range of sources contribute to funding the cost of each student’s education, from state and federal governments to churches and philanthropic foundations. They do so as more than a financial transaction. They’re investing in the unique ability of colleges and universities to shape informed, mature and well-rounded citizens who can contribute to the American experience.
A three-dimensional education — common at religious schools — has transcendent value. The Church of Jesus Christ of Latter-day Saints believes that the end goal of education is “the development of a refined, enlightened, and godly character.” Jesuit institutions embrace the principle of cura personalis, or “care for the whole person” in Latin. Students appreciate this, as one Gonzaga senior told a school publication: “This is so important during college, when so many of us are figuring out who we are and how we want to show up in the world.”
Students should become engaged citizens with critical thinking skills and the spiritual maturity to navigate a complex world. At the University of Chicago, the “Core,” a 15-course curriculum that emphasizes science, writing and the humanities, has made undergraduate degrees more valuable. “The Core teaches undergraduates how to think critically and how to approach problems from multiple perspectives,” the university writes. “The goal is to cultivate in students a range of insights, habits of mind, and scholarly experiences … (that) fosters an enduring dedication to reflection and learning.”
Institutions must find cost-effective ways to educate students without sacrificing the values that make learning worthwhile. Many offer workout spaces and recreational sports, recognizing their intrinsic value. “In an era where sedentary lifestyles are increasingly prevalent,” writes one researcher, “(physical education) offers a necessary counterbalance, promoting physical health, mental well-being, and social interaction.” Colleges and universities should expand this approach to all aspects of the person.
This story appears in the September 2025 issue of DeseretMagazine. Learn more about how to subscribe.