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Most grads say college is a worthy investment, but support making college tuition free

Despite the rising price of higher education, many college graduates still believe a college degree is worth the cost.

According to a Bankrate survey released Monday, 89 percent of four-year college grads believe that their degree was a good investment.

READ MORE: Student debt hurts household wealth for decades

Age was a major factor in the responses. Approximately 21 percent of younger millennials, who attended a four-year college, said college was not worth the cost, which was more than any other age group. Of college graduates 65 or older, however, 97 percent said it was a good investment.

The survey also touched on free college tuition, an issue that has been raised in the 2016 presidential campaign.

Democratic presidential nominee Hillary Clinton has proposed free tuition at public colleges and universities for students whose families have an annual income below $125,000 by 2021. Republican presidential nominee Donald Trump has not released any official plan to deal with the issue of increasing college costs, although he recently said he plans to do so in the coming weeks.

READ MORE: In overture to Sanders, Clinton unveils college costs plan

A majority — 62 percent of survey respondents — favor making public colleges and universities tuition free.

But, as might be expected, the numbers do break down party lines. According to the survey, 81 percent of respondents who identify as Democrats said they support free tuition for public colleges and universities. About 67 percent of respondents who identify as independent are also in favor, while only 33 percent of Republicans support the idea.

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