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As of the latest tally, 1.4 million more Americans have dropped out of college — although some “stopouts” may reenroll if the Supreme Court affirms President Joe Biden’s student loan forgiveness plan and their education debt is forgiven, a new report shows.
Overall, college enrollment declines have begun to level off, but the number of people who started college and then withdrew rose 3.6% in the 2020-21 academic year, according to the National Student Clearinghouse Research Center. More than 40 million students are currently unenrolled.
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An additional 41% of current college students said they have considered “stopping out,” or putting their education on hold, over the past six months, a new study from Lumina Foundation and Gallup found.
“The number of currently enrolled students thinking about stopping out keeps getting higher — that’s super concerning,” said Courtney Brown, Lumina’s vice president of impact and planning.
Financial obstacles lead many to stop out
Between the high cost of higher education and the strong labor market, students are questioning whether going to college is still worth it, noted Ross Gittell, an economist and president of Bryant University in Smithfield, Rhode Island.
“There’s concern about that investment upfront when the returns are uncertain,” he said.
Among recent “stopouts,” most said they put their education on hold due to financial obstacles, including the costs of programs, inflation and the need to work, the report by Lumina and Gallup found.
“It’s not just about tuition,” Brown said. “The reality is that today’s students work, they may have children or parents to support — there’s an opportunity cost.”
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At the very least, the Supreme Court’s pending decision on Biden’s student…
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