The newest US Department of Education IPEDS data show that enrollment, revenues, and jobs have decreased dramatically in the for-profit college sector.
Enrollment at for-profit colleges dropped from a peak of 2.4 million in Fall 2010 to 1.3 million in Fall 2017. That's an enrollment drop of 1.1 million.
This, in turn, has led to less revenue and fewer workers.
Revenues at for-profit colleges peaked in 2011 at $29.6B and dropped to $19.4B in Fall 2017. That's a drop of more than $10B a year from its peak.
For-profit college employees peaked at 295,887 in 2012 and the number dropped to 176,441 by Fall 2017. That's a loss of more than 120,000 jobs.
Fall/Year Enrollment Revenues Employees
2010 2,430,657 29,603,059,000 295,476
2011 2,368,440 33,889,758,000 288,882
2012 2,174,457 32,196111,000 295,887
2013 2,000,883 29,643,714,000 258,098
2014 1,883,199 27,310,167,000 241,134
2015 1,629,393 24,007,022,000 214,656
2016 1,437,452 20,804,128,000 191,083
2017 1,345,633 19,446,382,000 176,441
Current conditions in the for-profit college industry may actually be worse, judging by the Fall 2018 assessment by National Student Clearinghouse, which had reported an additional 15 percent decline. However, NSC's original press release has been removed.
The data also do not consider more recent losses, such as the collapse of Education Corporation of America (which includes Brightwood College and Virginia College) or Dream Center Education Holdings (which includes Argosy, Art Institutes, and South University.
One confounding issue is that for-profit colleges Grand Canyon University and Purdue University Global (formerly Kaplan) have moved to the non-profit side. Ashford University is also working on having its tax status changed from for-profit to non-profit.
Related link: Observations of the College Meltdown in Real Time
Related link: The Slow-Motion Collapse of America’s Largest University
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