Provident Bank Survey: 7 in 10 Americans Are Rethinking Higher Education, and Nearly 1 in 3 Are Eyeing the Alternatives
Key Highlights
- ➤71.3% say rising education costs changed their family’s plans
- ➤Only 20.6% believe a higher education degree is clearly worth the cost
- ➤30.4% identify trade or technical school as offering the best financial return
- ➤65% say student debt concerns make alternative education paths more appealing
- ➤Provident Financial Services (PFS) subsidiary Provident Bank reports $25.66 billion in assets
Expert Statements
Anthony Labozzetta, President & CEO, Provident Bank
“Higher education can be a powerful investment in a person’s future, but how families plan and pay for it can have financial implications for years to come. As a trusted financial partner, we have a responsibility to help customers make informed decisions, understand the options available to them, and provide tailored solutions that support both their educational aspirations and their long-term financial goals.”
Renee Altomonte, Executive Vice President, Retail Banking Director, Provident Bank
“Planning for higher education is one of the most complex financial challenges a family faces, and our survey shows that most feel they’re doing it without adequate support. Provident’s Financial Wellness Center is designed to address that. From 529 guidance to education savings tools that help families understand their options before the bills arrive, we’re here to help families plan smarter, not just save harder.”
ISELIN, N.J., Sept. 29, 2026 (GLOBE NEWSWIRE) -- Provident Bank, a leading New Jersey-based financial institution, announced today the results of its 2026 Higher Education Survey, which examines how American families are navigating the rising cost of higher education, evolving views on the value of a degree, and growing interest in alternative education paths. The findings reflect a financial reassessment now evident in how families plan, save, and make decisions related to college.
The financial pressure surrounding higher education remains a significant concern. The survey found that nearly 70% of respondents are concerned about the cost of higher education, and more than 70% say rising costs have already prompted changes in their families’ plans. As families weigh their options, the data reflects a more nuanced picture of how Americans think about the value of education today. Only 20.6% believe the financial return of a degree is clearly worth the cost, and 30.4% identify trade or technical school as the path offering the best financial return available.
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