College Enrollment in Decline in US : Analysis

According to a CNBC report, college enrollment in the US is steadily declining. The trend apparently began during the Covid-19 pandemic when many individuals chose to enter the workforce or undertake certificate programs instead of pursuing four-year degree programs. Data from the National Student Clearinghouse Research Center study as of September indicated that freshman enrollment in US colleges had decreased by 3.6%. Nearly all of these declines were at bachelor’s programs at both public and private four-year institutions.

Another survey from the same center showed a stagnation in completion rates in six-year colleges. The data demonstrated that almost 29% of all students who enrolled in such programs in 2017 have since suspended their education or dropped out entirely.

Doug Shapiro, executive director of the National Student Clearinghouse Research Center, says that skyrocketing college costs and rising student debts are major factors discouraging prospective students from investing in higher education. Federal reserve data indicated last month that total student debt in the US has nearly tripled since 2008, rising from $619 billion to over $1.77 trillion.

Studies by Lumina and Gallup pollsters, cited by CNBC, suggest most students who put their education on pause did so primarily due to financial struggles, including program costs, inflation, or the need to work. Even prior to a Supreme Court ruling in June against US President Joe Biden’s student debt relief plan, the decrease in college enrollment was already occurring.

The court decision, which found Biden had overreached his authority by proposing to cancel up to $20,000 of student debt for numerous Americans, might have further contributed to this declining enrollment trend.

Source: RT news: College enrollment on decline in US – CNBC