College enrollment is falling at a ‘concerning’ rate, new data reveals
College enrollment is falling at a ‘concerning’ rate, new data reveals
Fewer 18-year-olds are enrolling, especially at four-year schools. But the number of applications continues to grow
Summary
College enrollment among 18-year-old freshmen fell 5% this fall, with declines most severe at public and private non-profit four-year colleges.
Experts attribute the drop to factors including declining birth rates, high tuition costs, FAFSA delays, and uncertainty over student loan relief after Supreme Court rulings against forgiveness plans.
Economic pressures, such as the need to work, also deter students.
Despite declining enrollment, applications have risen, particularly among low- and middle-income students, underscoring interest in higher education. Experts urge addressing affordability and accessibility to reverse this trend.
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There's been a relatively recent trend of casting aside meritous reasons to get an education in favor of framing it as a financial investment (future income), but I can see why people would lose faith in an education in that regard when the opportunity cost is staggering, and for the past 15 years we've seen people simply throw money into a house or shares of Apple and wind up well-situated despite a lack of education.
I mean, if people say "go to college otherwise you'll be poor", college had better deliver. If it doesn't, doesn't make sense to go to college on that basis
I'm an old fart and I feel terrible about the cost of college for the past couple of decades. When I went, the max you could borrow was $2500/year on a GSL. But you could work very part time to afford it. Things started tightening with Reagan being elected. I didn't get any work study year 2. But we could declare financial independence so years 3 and 4, I got Pell Grants, more work study etc. Every quarter, I'd get a check back from the Bursar after paying tuition and books. And that didn't include my GSL.
I graduated with about $12k in student loans. $10k was my GSL and it was paid back at $105/mo for 10 years.