Author: Christos A. Makridis

Higher Education Risks No Longer Being Worth It – Here’s How to Change Course

The coronavirus pandemic has led to a substantial decline in the demand for traditional four-year degrees, leading to a 16 percent and 43 percent decline in fall enrollment for freshman and international students, respectively. In fact, a recent survey found that over a third of prospective college students are reconsidering higher education with 40 percent of them citing finances as the primary factor. This has led to growing concerns among university administrators about the financial health of their institutions. While some have responded by temporarily lowering their tuition rates in the absence of in-person classes, many have not, leading to dissatisfaction among students and parents alike. The value proposition for a traditional college degree has been shifting for a while. In fact, the added wage benefit that an individual with a bachelor’s degree earns, relative to not having a bachelor’s, has flattened in recent years, reversing a trend that had held for decades. Coupled with the move away from traditional in-person learning, at least temporarily, the pandemic has further undercut the returns to a college …