More than a quarter of private colleges in the United States are at risk of closing due to declining enrollment and financial struggles. A recent projection shows that 442 private, non-profit colleges and universities are at risk of closing or merging within the next decade.
Local Impact
The closure of these colleges will not only affect the students but also the local communities that rely on them. For example, Sterling College in Vermont, which is set to close at the end of the semester, has been a vital part of the local community, providing jobs and contributing to the local economy.
Students at Sterling College are concerned about the impact of the closure on their education and future prospects. "Now that this might be gone, I just really worry about some students out there that are going to have less and less choices," said LillyAnne Keeley, a senior at the college.
National Trend
The decline of private colleges is a national trend, with many institutions facing financial struggles due to declining enrollment and increasing costs. The number of students attending college has been declining since 2010, and the drop in the birthrate means that there will be fewer 18-year-olds in the coming years.
The proportion of high school graduates who go on to college is also down, from 70% in 2016 to 61% in 2023. The number of visas issued for new full-tuition-paying international students coming to the United States has also plummeted, which will further reduce demand for college education.
College and university leaders are worried about the long-term financial viability of their institutions, with 86% of them expressing concerns about their schools' financial future. Many are considering merging with other universities or colleges to stay afloat.
Original reporting: KTBS 3 (Shreveport) — read the source article.
