While higher education institutions are experiencing a decline in student enrollment, trade programs are thriving, because they are often more cost-effective than traditional four-year degrees, and can provide a clearer pathway to employment.
Universities are becoming less and less attractive: they’re expensive and don’t always guarantee well-paying employment after graduation. Overall enrollment is down 7.8 percent in two-year colleges and 3.4 percent in four-year institutions. Instead, young people have rediscovered the rewards of technical jobs, whether in automotive, electrical, construction or culinary.
Post-high school vocational colleges are becoming the new trend, and have seen an increase of more than 11 percent in enrollment. They are considered more affordable than a traditional four-year degree, while a qualification from established institutions (one example: the Tennessee College of Applied Technology, a network of 24 colleges offering training for 70 different occupations) guarantees an immediate and clear path to a well-paying, and always in-demand, job.
College degrees were once considered a ticket to the middle class or better, but now, for many Americans, they’ve become too expensive, less relevant and take too long to obtain. This explains why only 37.1% of 25 to 44-year-olds have a bachelor’s degree in the US.
As of 2022, the average student loan debt-per-borrower is $37,113 and in a 2022 poll, 51% of US adults agreed that the cost of higher education “impacted their ability to pursue education after high school.”
Over the years, the college enrollment rate in the United States has been inconsistent, and in recent times, it has exhibited a minor drop. According to research from the National Student Clearinghouse Research Center, there was a 2.5% decrease in undergraduate enrollment across higher education institutions during fall 2021, in comparison to fall 2020.
However, it is worth noting that the COVID-19 pandemic has played a significant part in this decline, as many students have postponed or deferred their college plans due to pandemic-related financial, health, and other concerns. The evolution of the post-pandemic period will determine future enrollment trends.
