The hot topic around many admission offices and here in Raleigh this week is the impact the current economic situation will ultimately have on students' college selection process (and ultimately college enrollment numbers in the fall). Several sessions already have provided insight into this area with research from a variety of sources (focus groups and polls of prospective students). Both Creosote Affects and Royall and Co. reported that the economy is, in fact, having a pretty significant impact on how students are selecting a college this year. Consider the following:
- Just short of 40% of students reported that they would be limiting the number of campuses they'll visit as they make their decision (Royall)
- 11% reported they would not be making any visits to colleges.
- Students are applying to, on average, ten institutions (Creosote).
- 26% more students plan to stay in the home state for college than in years past (Royall)
- 57% of students indicate that they are considering less prestigious schools because of financial concerns about not being able to afford their top choice (Creosote)
- Two-thirds of parents indicated they either have or plan to negotiate with colleges when it comes to scholarship and financial aid awards (Creosote)
I'll be posting a summary of what this means for enrollment managers and how to succeed this fall in spite of these bleak numbers. Check back tomorrow for that in the wrap up. In the meantime, I'll continue to share information from Raleigh this afternoon and again tomorrow morning.
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