College enrollment has declined by about 15% in the past decade, according to federal data. The reasons include the high cost of university education, colleges closing and uneven returns from getting a degree, as well as the hot job market. 

The college-enrollment rate has fallen for both men and women in recent years, but more so for men. Last year 66.1% of women who graduated from high school, ages 16 to 24, enrolled in college, nearly 10 percentage points higher than the rate for young men, which economists attribute to women enjoying greater financial returns from college. – WSJ

Money Points:

• The college enrollment rate for recent US high-school graduates, ages 16 to 24, declined to 62% last year from 66.2% in 2019.
• The rate topped out at 70.1% in 2009.
• The decline was steeper among men than women.
• The trend is driven by a strong labor market for less-educated workers.
• The shift is also being driven by a growing number of high-school graduates who are choosing to enter the workforce directly.
• Many employers are offering higher wages and benefits to attract workers.
• Some employers are also offering training programs and apprenticeships.
• The trend is being driven by a combination of factors, including rising tuition costs and student debt.
• Many students are also questioning the value of a college degree.
• Some students are choosing to pursue alternative forms of education, such as vocational training or online courses.
• The trend is expected to continue in the coming years.
• Some experts warn that the trend could have negative long-term consequences for the US economy.
• They argue that a highly educated workforce is essential for innovation and economic growth.