Ray Schroeder, Inside Higher Ed
Now, we see another major drop in births during 2020, with births down 4 percent over the year, but notably accelerating to 8 percent by December as the impact of COVID took hold earlier in the year, reducing births nine months later. In sum, competition is rapidly growing; the pool of “traditional” students is evaporating; employers are dropping degree requirements; and, with student debt now surpassing $1.7 trillion, we all know that families are looking for more cost-effective paths to the knowledge and skills they seek. “The fundamental business model for delivering education is broken,” said Rick Beyer, a senior fellow and practice area lead for mergers and affiliations at the Association of Governing Boards of Universities and Colleges. “The consolidation era started a few years ago. It will continue. We will see more closures.” What, then, are the bright spots for postsecondary learning?
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