HIGHER EDUCATION 2023 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 .
The “ Great Resignation ” has taught us that employees are taking their future into their own hands , giving up their current roles for remote work , higher wages , and potentially fewer demands and stressors in their day-to-day responsibilities . Students are taking a similar look at college and their future careers , asking themselves , “ What is important to me ? How do I define success ? What will get me there ?”
Higher education ( like all aspects of life ) has taken a hit since the pandemic , forcing colleges and universities to find new ways to attract students and boost enrollment . A compelling fact is that the employment rate for college graduates is just under 90 percent , according to the National Center for Education Statistics ( NCES ). Students recognize the impact a higher education degree has on employment rates but are facing a decision on whether the value of a college degree is worth the price , especially as some states look to no longer require a bachelor ’ s degree in the hiring process .
The Cost of Higher Education
Making college more affordable is on the minds of many higher education leaders , encouraging a harder look to be taken at 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 across the country with 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 for their kids by saving from an early age , but even then , parents find themselves averaging $ 35,000 in loan debt post-graduation . Overall , almost 45 million Americans have student loan debt according to Forbes — a cost that leaves many incoming freshmen wondering if it is worth the price .
Declines in Enrollment
There is an ongoing enrollment crisis hitting colleges and universities across the nation , as the undergraduate student body dropped by nearly 1.5 million according to data from
Continued on next page >
WOODLAND HILLS ❘ FALL 2022 21