Fewer students are graduating from college, but certificate programs are way up | CNBC
College education is losing its shine, with fewer students opting for traditional four-year degrees. The National Student Clearinghouse Research Center’s recent report reveals a significant drop in undergraduate degree earners, marking the steepest decline ever recorded. Meanwhile, certificates are rising, especially in vocational programs, reflecting a shift towards career-oriented training.
Factors contributing to this trend include the ongoing pandemic’s impact on enrollment, as many students are choosing immediate employment or shorter-term certificate programs over pursuing a bachelor’s degree. Financial constraints also play a significant role, leading to more dropouts and fewer graduates.
Once seen as a cost-effective pathway to a bachelor’s degree, the community college route is now facing challenges. Only a small percentage of community college students attain a bachelor’s degree, raising concerns about accessibility for lower-income and disadvantaged students.
Issues with the Free Application for Federal Student Aid (FAFSA) exacerbate the situation, dissuading many students from applying for financial aid. The FAFSA serves as a crucial gateway for federal assistance, and its completion significantly influences college enrollment rates, particularly for low-income students.
As college costs continue to soar and state funding for higher education decreases, attending college becomes increasingly unaffordable for many families. The widening gap between tuition fees and family incomes exacerbates the problem, making college education a privilege rather than a right for those with financial means………….
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Rising Dough
How do college enrollment and degree attainment shifts impact the economy, particularly regarding workforce development and income inequality?
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College enrollment and degree attainment have a big impact on the economy. They help develop the workforce and reduce income inequality. It’s all about investing in education for a better future.