The National Center for Education Statistics is moderating its perspective on US higher education enrollment.
In the Department of Education's The Condition of Education 2018 report, NCES projects enrollment to recover to 17.4 million undergraduate students by 2027, after six consecutive years of losses.
Unless there are major policy changes at the federal, state, and local levels, it's not impossible to project a more dismal picture. These positive changes would need to address social inequality in the US, including the savage inequalities in K-12 education and college affordability for working-class families.
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