A Look at Why Colleges are Going Out of Business
Colleges and universities are going out of business at an accelerating rate. There has been a trend that has been happening for some time, but it is not more pronounced due to a variety of factors.
From 2019 - 2021, undergraduate enrollment dropped across the board by nearly 8%. This is a remarkable drop, the latest 2-year drop over the last 50 years.
Why is this happening? Education costs have been rising, far higher than inflation or costs of other industries. Getting a degree isn't a guarantee of a future job, so a number of graduates to not see an ROI from a degree. Overall interest is down, as there are other paths to success. Additionally, there is a smaller candidate pool of the typical college-age population.
Will more colleges go out of business? Time will tell - explore more of these factors in the infographic below: