Takeaways from The Demographic Cliff Is Here

But who will it hurt?

Did you know that the market size of the U.S. colleges and universities was assessed at over $557 billion in 2023? All those billions of dollars depend on a steady flow of students coming in and qualified graduates flowing out. What happens to the system when the crucial input of applicants drops dramatically? Amy and Mike invited journalist Jon Marcus to answer that very question, because the dreaded demographic cliff is here.

Listen to the full episode HERE before or after you review the key takeaways, topic breakdowns, and questions answered from this episode.

SOURCE: EAB

Key Takeaways

• A sharp decline in 18-year-olds (15% over 13 years) is creating a "demographic cliff" for colleges, leading to closures and financial strain

• Tuition is decreasing due to supply/demand, but room and board costs are rising as colleges seek alternative revenue

• It's becoming easier to get into most colleges (76% acceptance rate overall), creating a "buyer's market" for students

• Colleges are struggling to adapt, with limited success in attracting alternative student populations (e.g., Hispanic, international, older students)