many college Financial pressures and cracks appearing begin to appear.
According to the latest statistics, at least 20 universities will close by 2024, and more will close after the end of this academic year implantan economic software and analytics company.
More than 40 universities have closed since 2020, according to another report best university.
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Some college prices now approach $100,000 per year
As some private colleges approach prices six figures per yearstudents are increasingly choosing less expensive public schools or Complete replacement for a four-year degreesuch as trade programs or apprenticeship programs.
At the same time, the number of college students is shrinking, a trend known as the “enrollment cliff.”
Experts are constantly warn Ongoing problems with the new Free Application for Federal Student Aid, which has led to fewer students applying for financial aid, could also lead to Enrollment decline.
Implan Vice President Candi Clouse said this has put some colleges and universities in a difficult position, especially “small private schools (usually liberal arts schools).”
Meanwhile, the country’s most elite institutions are thriving.
College Application Jump
came out PandemicThe report shows that a small group of colleges, including many Ivy League schools, are seeing record increases in applications.
For example, last year, Yale University accepted 3.73% The number of applicants for the Class of 2028 hit a record high of 57,465.
Overall, the number of people applying to college up 11% The latest data from the Common Application found that more students are applying to the same schools in the 2023-24 school year, even if enrollment is flat.
If you’re not a big brand, you have a real problem on your hands.
Hafiz Lakhani
Lakhani Coaching Founder and President
“For more than five years, there has been a paradox in higher education,” said Hafeez Lakhani, founder and president of Lakhani Coaching in New York.
“At the same time as the admissions crisis was unfolding, applications to the most selective schools were hitting record highs,” he said. “The consensus is that college is worth going to only if it changes your life.”
At the same time, he added, less reputable but equally expensive private colleges are struggling to attract applicants.
For most students, “the cost is far from reasonable,” Lakhani said.
“If you’re not a big brand, then you have real problems,” he said.
Other reports suggest college is becoming a path only for those who can afford to pay.
Based on SAT or ACT scores, children from families in the top 1 percent are more than twice as likely to attend so-called Ivy Plus schools as children from middle-class families. National Bureau of Economic Research.
Although opinions vary on which schools should be considered Ivy Plus, the group generally includes the eight private universities that make up the Ivy League ivy league — Brown, Columbia, Cornell, Dartmouth, Harvard, Penn, Princeton and Yale — plus the University of Chicago, Duke, MIT and Stanford.
Most Americans still believe that a college education is worthwhile in terms of career goals and advancement. However, according to another report, only half believe the economic benefits outweigh the costs The Public Agenda, USA Today, and the Hidden Common Ground.
Rising college costs and ballooning student loan balances The report found it has played an important role in changing perceptions of the higher education system, which many believe is rigged to benefit the wealthy.
Tuition and fees plus room and board at a four-year private college will average $56,190 for the 2023-24 academic year. Tuition at a four-year, in-state public college is $24,030, according to the agency. college boardwhich tracks College Pricing and Student Aid Trends.
The Common Application found that most applicants come from the wealthiest ZIP codes.
