College closures in the US have risen sharply in the last 8 years

From 2014 to 2023, some 529 private, non-profit four-year institutions have shut down — 3x as many as in the previous decade — including renowned establishments like New York’s 156-year-old Wells College closing their doors.

Degrees of separation

While several factors are at play, the major driving force is simply the strain from tuition losses, as the number of people going to college continues to dwindle. According to the National Center for Education Statistics, enrollment in postsecondary institutions was down 12% in 2022 from its recent 2010 peak.

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