Number of higher ed institutions dropped 1.7 percent in the 2023-2024 school year as the cost of college continues to soar
The number of higher education institutions dropped 1.7 percent during the 2023-24 academic school year as economic constraints make it harder for higher ed to operate.
The number of higher education institutions dropped 1.7 percent during the 2023-24 academic school year as economic constraints made it harder for higher ed to operate.
Data from the National Center for Education Statistics displays that a decline in eligible institutions that receive Title IV federal student aid has significantly contributed to the number of universities that are up-and-running, offering education to students.
There are now seven fewer private nonprofit 4-year schools, 10 private for-profit 4-year schools, and several other private and public colleges and universities which have had their eligibility status change regarding their ability to receive Title IV funding.
Overall, there are roughly 100 fewer Title IV institutions in the nation, including colleges that have closed, remain open but lost their eligibility status, and other schools that have merged with other colleges or universities, as reported by HigherEd Dive.
Overall, four-year, for-profit, schools dropped 4.1 percent, with 3.6 percent of two-year schools dropping from the list following the recorded change. This leaves the United States with 307 four-year for-profit institutions and 508 two-year for-profit institutions.
This data comes as many colleges and administrators are concerned about funding, the effects of university-related economic constraints on student-ability to attend college, and the closure of institutions.
Forbes reported that college has become significantly more expensive in the years 1980 to 2020. The cost of going to college, including tuition, fees, and housing for undergraduate students, has increased 169 percent for students in those years.
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The amount students were paying to attend a four-year college in 1980 was, on average, $10,231. In 2020, that figure rose by 180 percent, costing students $28,775.
Students who attended private nonprofit colleges and universities were expected to pay $48,965 in 2020, compared to the $28,775 that students paid at public institutions.
Campus Reform has contacted The National Center for Education Statistics for comment. This article will be updated accordingly.
