From 2019 to 2021, college undergraduate enrollment fell by nearly 8%, the largest 2 year drop in the past 50 years. A large part of this decline directly stems from the pandemic, where economic changes made many high school students rethink whether or not college was the right move.
In 2020, 56% of US college students said they could no longer afford their tuition. Nearly 500,000 undergraduates dropped out in the fall of 2021 due to the financial struggle, and 70% of overall students reported that affordability affected their future educational plans.Â
With undergraduate enrollment declining, 53 colleges closed permanently over the course of the pandemic. More colleges are in danger of closing as undergraduate enrollment continues to be low and funding dwindles smaller. Students who are enrolled in colleges that are experiencing the pressures of the post-pandemic economy are nervous about what this means for their future.Â
Now that things are returning to a more normal state, it is important that high school students look at financial trends when they are enrolling in college. If their college were to close, it could mean a stressful transfer process, credits not counting, or worse. To avoid this, it is important to do your research and stay informed in the post-pandemic economy.
