As College Attendance Begins to Drop, More Private Colleges are Discounting Their Tuition to Attract Students
College attendance is beginning to drop. According to the Hechinger Report, higher-education officials are beginning to see signs that overall college enrollment is starting to drop. While Harvard, Yale and a few other selective universities may have record numbers of applications, many colleges are seeing their enrollment drop-off due to skyrocketing tuition and concern about debt.
This drop in college attendance is especially squeezing private colleges. More than 40 percent of private colleges reported enrollment declines. More schools have space still available than at any time in at least a decade. Already, in the academic year just ending, many universities had to offer greater discounts just to fill seats.
Second- and third-tier private colleges with small endowments may themselves be in trouble. Already, at least 375 colleges report space still available for the fall, even at the end of the admission season, according to NACAC. That’s up from 279 last year, and the highest number this century. Seventy percent are private.
The percentage of accepted students who actually enroll in any university or college, which is called the “yield rate,” has fallen from about half to 41 percent in the last decade, NACAC says.
You can read the full report here: