HIGHER EDUCATION 2023-24 SPECIAL SECTION
As a new school year begins , many students are entering their final years of high school , their first years of college , or even breaking into the career world with their first full-time job . Big decisions are either in their near future or just settled by way of college , career , or advanced degree , with all wondering if the choices they are making will prepare them for a successful future .
As we settle into a lifestyle much different than just a few years ago , many students are choosing to take their future into their own hands , figuring out what ’ s really important to them , how to define success and what would get them there .
The 2023 graduates entered a strong labor market , but inflation and the rise of living expenses — all matched with the looming debt of college — have students facing a decision on whether the value of a college degree is worth the price .
The Cost of Higher Education
Making college more affordable is on the minds of many higher education leaders , encouraging a harder look at potential long-term solutions to help students avoid taking on large
amounts of debt . But in the meantime , cost is a huge barrier for many students who have hopes to pursue higher education .
Students incur an average of $ 30,000 in debt after graduation , setting them up to start out in the red as they enter the working world . Many parents try to ease that burden by saving for their kids from an early age , but even then , parents find themselves averaging $ 35,000 in loan debt post-graduation . Overall , about 45 million Americans have student loan debt , according to the most recent data from the U . S . Department of Education — a cost that leaves many incoming freshmen wondering if it is worth the price .
Declines in Enrollment An enrollment crisis hit colleges and universities across the nation over the last few years . High school graduates and disenrolled college students have instead been seeking out jobs , since the pot is sweetened for entry-level roles as companies try to fill their talent pipelines . According to a recent survey conducted by ResumeBuilder , more than half of the hiring managers surveyed said they lowered the education requirements for entry-level positions , stating that they did so due to the labor shortage .
While some high school grads are choosing to start their careers , data does show that first-time freshman enrollment is up , and higher education is looking at a variety of ways to satisfy students ’ desire for flexible learning models and prevent disenrollment .
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