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There are many economic benefits from people earning a college degree, as well as broader public benefits from postsecondary educational attainment. However, many Americans express skepticism in the economic value provided by higher education. This skepticism is rooted in misperceptions about the costs of attending a postsecondary institution and the real economic advantages experienced by those with a college degree. Using an original, nationally-representative survey, we introduce a new measure of skepticism in the economic value of higher education using five survey questions that capture this underlying trait. This trait is strongly associated with attitudes towards various higher education policies, often more so than partisanship, and correcting these misperceptions is a necessary step towards increasing higher education attainment nationally.