The claim 'A degree has lost its value' is quite misleading right off the bat as it's not too specific. I assume the claim is referring to a college degree - so for the sake of attempting to answer this claim, I will be under the impression that this claim is referring to a college degree - therefore 'a college degree has lost its value'. Even this though, keeps the claim quite open as it does not target a specific degree, but rather college degrees in general. Therefore, I will also research with the impression this claim is referring to college degrees in general.
According to the source 'Decreasing Value of University Degrees (and other academic certifications)' by Robin Good - he brings attention to the fact of college degrees beginning to lose their value rapidly. This is due to considerations that have become more highly valued such as information learned during college study is not always useful to actual work demands, the fast-growing amount of paid jobs that do not require a university degree and growing alternative paths that can be taken to learn new skills that are more low cost. Not only these factors play in the diminishing of degree value, but it is also claimed that [outside of traditional "professionals" such as doctors and engineers] companies have begun recruiting people by looking for "skills and experience" than for degrees and certificates. It is made clear through this source that the value of the degree is diminishing because people have begun to value people's skills and experiences more than the degree itself. Which, from my personal perspective, would absolutely make sense. I personally have had professors tell me that the experiences you endure and opportunities within fields you take advantage of OUTSIDE of academics - weigh more in value and are viewed as more impressive even than the degree itself. It suggests ambition towards one's field and the 'real world' experience employers look for that solely students do not obtain within a classroom. This is why internships are highly encouraged to involve oneself, as I've been told employers will look more for experience, through things such as internships, while considering you for a position.
Good writes that "It’s the method that doesn’t work anymore. Certifications and diplomas prove little about a person's skills and abilities in the real world. Today, the job marketplace requires people who can “think”. People who can come up with creative solutions to unexpected problems, people who are prepared to be continuously challenged by new discoveries and innovations but who can discern which ones are relevant and immediately useful for their goals, and people who can recognize patterns and relationships across industries and disciplines to help them find new and better ways to achieve their objectives." (Good)
To consider another source though - Phil Black's "The Declining Value of College Degrees" suggests right off the bat that college degrees have lost their luster within the job market. Furthermore, "Tesla, Amazon, IBM and Google have all eliminated college education as a requirement for many entry-level jobs, and wide swaths of the banking and technology sectors have virtually eliminated degree requirements for many core positions" said Black. To further strengthen this concept:
"New grads are finding their degrees worth far less than they may have thought: As new 2021 and 2022 graduates seek employment, 34% of them said they could have gotten their jobs without a college degree, according to a recent survey by ResumeBuilder" (Black).
It has also been found that relaxing education requirements remove barriers to diversity. Overall - "College is more or less a signal that at least you have enough brainpower to get through college,” says Bersin, “but it doesn’t tell you that much about what you’re going to be good at” (Black).
However, a reliable .edu source may work against the previous research provided.
According to 'University of Massachusetts Global''s "Is a College Education Worth It? Weighing the Options for Adult Learners." - studies show:
"Not only are adults with bachelor’s degrees more likely to find work, they’re also more likely to make a sustainable living. According to the College Board report, a college-educated individual’s median annual earnings were approximately 67 percent higher than those of a high school graduate. Just four percent of bachelor’s degree holders lived in poverty in 2015, versus 13 percent of high school graduates. College graduates are also statistically more likely to climb the socioeconomic ladder." (Is a College Education Worth It? Weighing the Options for Adult Learners).
With this reliable source in mind, it suggests that those who have at least earned a Bachelor's degree are significantly more likely to be the upper end of the income distribution than those from similar backgrounds who only earned a high school diploma. This evidence and supporting data may weigh as more reliable then the two previous sources as this one comes from an academic/scholarly source - and the other two do not. While the two previous sources work to suggest that employers are more concerned with skills and experience than degrees (ultimately playing a big role in the hiring process), the reliable source provides data that proves those who have a degree do better in terms of finding work easier and receiving higher earnings.
At the end of the day though while considering all of this research from different sources - I would argue this claim can be Can't be true or false, but leaning more towards being False. I give this claim this answer because ultimately - it depends on the individual themselves. I have met very successful people in my life who did not go to college and have met those who have college degrees and maintain average to well-paying jobs. It comes down to how YOU go about life by making the most of opportunities, gaining experience, and not losing sight of your goals. Those individuals I've met who are very successful and did not get a college degree had a passion and a very strong idea as to what they wanted to achieve - and made it happen. I would go as far as to argue though, that experiences outside of the classroom tend to be highly valued such as through internships as these demonstrate your understanding of a field from a real-world take. While the data still suggests that those who receive degrees do have higher chances of being more successful, it honestly comes more down to the person and their own path in life - making this fact-check difficult to find the true answer to.
Works Cited/Sources
Black, Phil. “The Declining Value of College Degrees.” /Tomorrow, 24 Jan. 2023, room.com/a/tomorrow/human/the-declining-value-of-college-degrees.
Good, Robin. “1. Decreasing Value of University Degrees (and Other Academic Certifications).” Medium, 30 May 2018, medium.com/content-curation-official-guide/decreasing-value-of-university-degrees-2f831c4fd625.
“Is a College Education Worth It? Weighing the Options for Adult Learners.” www.umassglobal.edu, www.umassglobal.edu/news-and-events/blog/is-a-college-education-worth-it.
