College Enrollment Down for the 7th Straight Year
Uh-huh. Optimism is great, but too much in cloud, people's judgment, especially when it comes to planning their financial future, a more, realistic outlook can result in a greater appreciation for protection from market downturns, which an annuity can provide find out more at a theme dot com. Here's your money, briefing, im JR Waylon at the Wall Street Journal in New York enrollment in colleges and universities in the US is dwindling, and small colleges are feeling the pinch the most we'll get into the details in a moment. First as money and markets stories, you know, mortgage rates drop below four percents on Thursday for the first time since early last year. Freddie, MAC says the average rate this week and a thirty year fixed rate mortgage was at three point nine nine percent. That marks a fall of nearly a full percentage point from the highs of November. Some lenders have an offering rates well below that, and that could be the catalyst to boost the struggling housing market lower rates stand amid mortgages, more affordable for buyers and the sharp fall so far in two thousand nineteen has lifted optimism for a market that has cooled after years, a substantial growth in home prices around the country and to. Accommodate America's online shopping habits. Fedex is going to deliver packages seven days a week starting next year. Fedex, also says it will bring the customer's doorsteps made me the packages at currently drops. It local post offices. The shift also aims to lower costs. It'll Bill density along FedEx ground roots. While also shifting some two million packages daily out of the US, postal services, network, FedEx, and its competitors ship. An estimated fifty million packages a day in the US. Even when people think they know a lot about financial planning for retirement complex descriptions can put up roadblocks to investing. Find out more at theme dot com. Since about ten years ago. College enrollment declining, and it's declining at a rate that significant pressure is being put on smaller schools around the country. The Wall Street Journal's Jake Holland is on the line with us with some details. So Jake enrollment was strong up to the early part of this decade. But now has declined nationally for the seventh year in a row, wh what is driving that decline? So the main decline is being driven by strengthening economy. So as the economy gets better students, especially older non traditional students. So Dulce who went back to school during the great recession. A lot of those students are re entering the workforce, and that's the reason why we're seeing declining numbers across the board. So it's the competitive job market, that's drawing them away from doing. Let's say continuing education or completing education and to jump into the world. That's, that's one of the main driving factors, and it's also that particularly in the midwest. We're seeing declining numbers of Sudanese. Primarily because they're fewer high school graduates. Not so much because the graduation rate is decreasing, but rather because there are fewer students of that age in high school, and even with it. It's interesting in your store. You say that enrollment by students under age eighteen has increased nearly everywhere. Yet, the main driving factor for that is dual enrollment classes. So those would be classes that high school students would take typically in their junior or senior year, more, they would enroll at a local community college or local university and take classes that way for college credit. So how is this affected smaller schools, in particular, what we've seen kind of over the past six, seven years, that as the total number of students has been decreasing these smaller schools have had to work harder to attract, you know, the numbers needed to sustain their growth and their institutions CSO across the board. We've seen decreases in college enrollment, but the institution. That are being particularly hard hit are for profit schools. And that's because they typically derive a lot of their enrollments from older, nontraditional students who are going back to school or potentially going to school for the first time on what we've seen is over the past few years. A bigger drop in the enrollment for those types of institutions as compared to let's say four year, non not not for profit private institutions in this caused some private schools to actually close. Yeah, that's right. For example, in, in Vermont. We're seeing, you know, smaller institutions three of which this year will hold their final commencement s- and will cease to operate just because they haven't been able to keep up tudent enrollment numbers, and for a lot of these smaller schools that have not closed but definitely you're feeling the pinch. They had to sort of innovate when it comes financially to attracting, and holding onto students write a lot of schools, particularly smaller private institutions. Dave, I mean across the board. We've seen increases in the sticker price. Of schools, and a lot of these smaller colleges. Maybe don't have the clout that larger elites itunes have, and they've tried new ways to attract students to fill their freshman classes, these would include things like increasing financial aid, or scholarship packages student or freezing, or slashing their sticker prices to kind of attract new students in so in terms of the current climate faced by these smaller schools, and, and these universities nationally, not every state is seeing declines in enrollment some are actually seeing increases, so eleven states this year, actually noted increases that said, most of those increases were modest. But in both New Hampshire and Utah. We did see some pretty substantial increases on in New Hampshire. For example, there is about a nine point nine percent, increase or fourteen thousand five hundred students and Utah noted a seven point two percent increase or about twenty to twenty three thousand students, and you can check out the full array of. Numbers in. Jake's story on wsJcom or the WSJ app, and Jake is good enough to join us, Marcia cock-up bureau on the line. Jake, thanks for coming on the show so much for having me. And that's your money briefing. I'm Jay Waylon and New York for the Wall Street Journal.