All posts filed under: Higher Education

Higher Education Risks No Longer Being Worth It – Here’s How to Change Course

The coronavirus pandemic has led to a substantial decline in the demand for traditional four-year degrees, leading to a 16 percent and 43 percent decline in fall enrollment for freshman and international students, respectively. In fact, a recent survey found that over a third of prospective college students are reconsidering higher education with 40 percent of them citing finances as the primary factor. This has led to growing concerns among university administrators about the financial health of their institutions. While some have responded by temporarily lowering their tuition rates in the absence of in-person classes, many have not, leading to dissatisfaction among students and parents alike. The value proposition for a traditional college degree has been shifting for a while. In fact, the added wage benefit that an individual with a bachelor’s degree earns, relative to not having a bachelor’s, has flattened in recent years, reversing a trend that had held for decades. Coupled with the move away from traditional in-person learning, at least temporarily, the pandemic has further undercut the returns to a college …

COVID-19 Has Exposed Critical Weaknesses in Global Higher Education

The traditional educational services sector in the United States, and world at large, was not prepared for the COVID-19 pandemic, including institutions of higher education, leading to significant disruptions in learning outcomes and budgets. Notified at the last minute, many students found themselves having to pack up their bags and leave campus dorms—sometimes with nowhere to go. Although the dust is still settling, four-year colleges might experience a 20 percent decline in fall enrollment, accelerating a trend already in place since 2011. In fact, 500 to 1,000 colleges might be put completely out of business. These new challenges add to already deteriorating outcomes among college graduates, ranging from an all-time high of nearly $1.6 trillion in student debt as of 2020 to a flattening college wage premium. Moreover, a national 2018 survey of employers found that only around 40 percent say that recent college graduates exhibit professionalism, a good work ethic, and have decent oral and written communication, and only 33 percent say that recent graduates possess leadership skills. This is particularly concerning given that …