Many college graduates will settle for a job that doesn't require a degree, according to a study done by the

The study estimates that currently, only 60 percent of college graduates are in jobs that require a college degree. The odds aren't likely to improve for the 1.7 million new grads this spring.

College grads who come up short on opportunities in their fields of study and end up taking a survival job, such as a bartender, server or other low-skill position, are

Nationwide, there were about 1.94 million college graduates under age 30 who were mal-employed between September 2010 and and January 2011, according to Andrew Sum, director of the Center for Labor Market Studies at Northeastern University.

Because so many college grads are not finding jobs in their fields of study, the value of a college degree has come into question. Experts still say earning a college degree is the best way to protect yourself against unemployment, but the return on investment is not as high as it used to be.