Report Warns of Surge in U.S. College Closures Due to Enrollment Decline

A new study predicts significant increases in college closures as declining birth rates, rising tuition, and shifting student preferences reshape higher education.

• A Federal Reserve Bank of Philadelphia report forecasts up to 80 additional college closures if student enrollment drops sharply by 15% in a single year.
• The study highlights a 'demographic cliff,' driven by declining birth rates and fewer high school graduates enrolling in college immediately after graduation.
• Total college enrollment has already fallen 15% from 2010 to 2021, with freshman enrollment reaching its lowest levels since the COVID-19 pandemic.
• Vocational and certificate programs are attracting more students, with vocational school enrollment rising 16% in 2023, as many question the value of traditional degrees.
• Closures could significantly impact local economies and communities, with over 100,000 students and 20,880 staff potentially affected in the worst-case scenario.

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