College Closures Expected to Skyrocket as Americans Turn Away from Higher Education

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Annual college closures may increase as enrollment at higher education institutions continues to decline, according to a Federal Reserve Bank of Philadelphia report.

If enrollment at universities continues its downward trend, as many as 80 additional colleges may be forced to shut down, according to a December report published by the Federal Reserve Bank of Philadelphia. Recent data shows freshman college enrollment has reached its lowest point since the pandemic, declining by over 5%.

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More Teachers, Fewer Students Nationwide Despite Claims of Teacher Shortage

The number of teachers in the U.S. has increased from 2013 to 2020 while the number of students has decreased, according to data from the National Education Association, the nation’s largest public-school union.

While total enrollment has dropped 1.4% over those seven years, there has been a 2.3% increase in the number of public-school teachers.

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Over 120,000 Students and Families Have Left NYC Public Schools in Last Five Years

The New York City Department of Education (DOE) is bracing for a potential massive loss in its budget after over 120,000 students and families have left the city’s public school system over the last five years.

The New York Post reports that the city’s Chancellor of Schools David Banks addressed the matter before the City Council’s Education Committee on Monday, warning that the decline in enrollment could negatively impact the system’s budget plans for the coming years.

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Most Minnesota School Districts Facing Budget Shortfalls amid Enrollment Decline

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Minnesota school districts belonging to the Association of Metropolitan School Districts (AMSD), a lobbying organization, are facing a collective budget shortfall of $235.3 million for the upcoming 2022-23 school year.

That figure comes from the results of an AMSD survey taken by 45 school districts across the state.

For example, Minneapolis and Saint Paul Public Schools are facing respective shortfalls of $59.5 million and $42.8 million — approximately 43% of the combined shortfall. Only eight school districts that took the survey reported no projected shortfalls.

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University Bets on Bitcoin as Nationwide Enrollment Dips

San Diego State University is now accepting donations in the form of Cryptocurrencies such as Bitcoin and Ethereum.

An anonymous donor has sent the school approximately $25,000 worth of Bitcoin, according to the SDSU NewsCenter.

“The SDSU auxiliary will keep almost all of the contribution in the form of Bitcoin instead of immediately converting it all to cash as many other universities have done,” the outlet reported.

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