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Description

Description

Market overview


There are currently just under 20 million students enrolled in higher education programs in the US. Three quarters of higher education students are enrolled in non-profit public two-year or four-year programs, but enrollment is dropping as a stronger economy incentivizes potential students to enter or stay in the workforce rather than continue their education.


"The high cost of higher education and a growing need for a degree to earn a living wage mean the stakes are high when it comes to choosing a school. For today’s prospective students, twenty-first century tools like school websites are replacing some of the in-person touchpoints upon which older generations relied during their college search. There are opportunities for schools to offer support to families of first-generation college students navigating their school search and application process."
- Kristen Boesel, Senior Lifestyles and Leisure Analyst

What's included

What's included

Table of contents

Table of contents

  1. Overview

    • What you need to know
      • Definitions
      • Executive Summary

        • Market overview
          • Figure 1: Postsecondary fall enrollment, by sector, 2017
        • What students want
          • Why
            • What parents want
              • Why
                • What’s next
                • The Market – What You Need to Know

                  • There are almost 20 million higher education students
                    • Higher education is expensive; student debt is commonplace
                      • The price of higher education is only going up
                        • Overall, enrollment is trending downward
                        • Market Size and Breakdown

                          • Almost 20 million postsecondary students in the US
                            • About 11.6 million students enrolled in four-year undergrad or graduate programs
                              • Almost seven million students at public, non-profit two-year schools
                                • Small share of postsecondary students enrolled in for-profit programs
                                  • Figure 2: Postsecondary fall enrollment, by sector, 2017
                                • Fewer than seven in 10 students graduate within six years
                                  • Female students more likely to follow through at four-year schools
                                    • Private and selective schools have better graduation rates
                                      • Educational attainment varies by race and Hispanic origin
                                        • Figure 3: Highest level of educational attainment, among US adults aged 18-34, by race and Hispanic origin, 2017
                                      • Some students spend up to $50K each year for tuition, room and board
                                        • Sticker shock
                                          • Figure 4: Average published charges (enrollment-weighted) for full-time undergraduates, 2019-20
                                          • Figure 5: Estimated average published and net prices for total tuition, fees, room and board, 2019-20 school year
                                        • OPMs enable online learning, but make programs less affordable
                                          • Student debt burdens borrowers for years after graduation
                                          • Market Factors

                                            • Cost of higher education is a major barrier
                                              • Figure 6: Barriers to continuing education, October 2019
                                            • Cost of higher education keeps increasing
                                              • Figure 7: Growth in average published tuition and fees (in 2019 dollars), select years 2000-2020
                                              • Figure 8: Growth net total tuition room and board (in 2019 dollars), select years 2000-2020
                                            • A stronger economy means fewer postsecondary students
                                              • Figure 9: Postsecondary fall enrollment, by sector, select years 2000-2017
                                          • Key Trends – What You Need to Know

                                            • Technology is changing the nature of college recruitment
                                              • Students at HBCUs gain visibility but suffer financially
                                                • Schools and politicians address the problematic cost of higher ed
                                                  • Digital advancements are shaping the direction of education
                                                  • Mintel Trends and Higher Education

                                                      • Surroundings: Schools go carbon neutral
                                                        • Rights: HBCUs experience a “Trump Bump”
                                                          • Technology: Cookies and algorithms impact acceptance rates
                                                          • What’s Working

                                                            • HBCUs
                                                              • Beyoncé’s Homecoming highlights HBCU culture
                                                                • Robert F. Smith’s gift to Morehouse grads
                                                                  • Graduation rates trend upwards
                                                                    • Schools make strides toward affordability
                                                                    • What’s Struggling

                                                                      • HBCUs
                                                                        • Student debt hits Black students especially hard
                                                                          • Financial institutions charge HBCUs more for bonds
                                                                            • Some students go hungry
                                                                              • Virginia Tech inundated with acceptances
                                                                                • Schools shutter as enrollment declines
                                                                                • What to Watch

                                                                                  • Cultural changes to the tech industry must start in school
                                                                                    • New majors emerge for careers in a digital world
                                                                                      • 2020 presidential election could change the cost of higher education
                                                                                      • The Consumer – What You Need to Know

                                                                                        • Desired career drives need for a degree
                                                                                          • Areas of study need to offer practicality
                                                                                            • Undergraduate years are a time to develop adulting skills
                                                                                              • The digital world has transformed the college search
                                                                                                • Generation Z sees higher education through an individualized lens
                                                                                                • Higher Education Motivators

                                                                                                  • Most students see a degree as the gateway to their desired career
                                                                                                    • Figure 10: Motivations for continuing education, among total students surveyed, October 2019
                                                                                                  • Gen Z more driven by parental expectations and independence-building
                                                                                                    • Figure 11: Motivations for continuing education, by student generation, October 2019
                                                                                                  • Female students more likely than males to enjoy school
                                                                                                    • Figure 12: Motivations for continuing education, by gender of students, October 2019
                                                                                                  • Black students more motivated to gain skills for a new career
                                                                                                    • Family expectations stronger for Hispanic and Asian students
                                                                                                      • Figure 13: Motivations for continuing education, by race/Hispanic origin of students, October 2019
                                                                                                  • Gathering Information

                                                                                                    • Parents put greater stock in IRL resources
                                                                                                      • Figure 14: Perceived impact of elements on child’s choice of school, October 2019
                                                                                                    • Websites are key to influencing students
                                                                                                      • Students rate school’s website as important as a campus visit
                                                                                                        • For students, sites like College Board are as influential as educators’ advice
                                                                                                          • Figure 15: Perceived impact of elements on students’ own choice of school, October 2019
                                                                                                          • Figure 16: Perceived impact of elements on students’ choice of school, among parents and students, October 2019
                                                                                                        • Differences between types of prospective students
                                                                                                          • Figure 17: Perceived impact of elements on students’ own choice of school, October 2019
                                                                                                        • College reps have greater impact for multicultural students
                                                                                                          • Figure 18: Impact of elements on students’ own choice of school, by race and Hispanic origin, October 2019
                                                                                                      • Perceptions of Types of Higher Education Programs

                                                                                                          • Generally, parents and students perceive types of schools similarly
                                                                                                              • Figure 19: Correspondence analysis among parents – Symmetrical map – School attributes, October 2019
                                                                                                              • Figure 20: Correspondence analysis among students– Symmetrical map – School attributes, October 2019
                                                                                                            • Gen Z students are more open to online programs
                                                                                                                • Figure 21: Perceptions of online degree/certificate programs, among parents and students, October 2019
                                                                                                            • School Considerations

                                                                                                              • Courses and areas of study influence school choice most
                                                                                                                • Figure 22: Elements that influence students’ choice of school, among total parents, October 2019
                                                                                                                • Figure 23: Elements that influence students’ choice of school, among total students, October 2019
                                                                                                              • More educated parents especially value school’s academic reputation
                                                                                                                • Figure 2: Parents’ opinion of child’s school considerations, by education level of parent, October 2019
                                                                                                              • Undergraduate students consider type of campus and size of school
                                                                                                                • Nontraditional students want a flexible class schedule
                                                                                                                  • Figure 24: Elements that influence students’ choice of school, by type of student, October 2019
                                                                                                                • Female students care more about areas of study and distance
                                                                                                                  • Figure 25: Elements that influence students’ choice of school, by gender of student, October 2019
                                                                                                                • Hispanic and Asian/Other students value school’s academic reputation
                                                                                                                  • Black students show greater need for flexible class schedules
                                                                                                                    • Figure 26: Elements that influence students’ choice of school, by race and Hispanic origin of student, October 2019
                                                                                                                • Parent Involvement

                                                                                                                  • Ripped from the headlines: William Singer admissions scandal
                                                                                                                    • Campus visits and application assistance are top ways parents help out
                                                                                                                      • Figure 27: Parental involvement with child’s college search, October 2019
                                                                                                                    • Moms and dads equally involved in helping with college search
                                                                                                                      • Figure 28: Parental involvement with child’s college search, moms vs dads, October 2019
                                                                                                                    • Parents without their own degree less focused on specific schools
                                                                                                                      • Figure 29: Parental involvement with child’s college search, by education level of parents, October 2019
                                                                                                                  • Attitudes toward Higher Education

                                                                                                                    • Most Americans believe college should teach independence
                                                                                                                      • In theory, it’s never too late to go back to school
                                                                                                                        • Parents favor practical majors and internships
                                                                                                                          • Two thirds of Americans agree that employers favor famous schools
                                                                                                                            • Figure 30: Top attitudes about higher education, agreement among parents and students, October 2019
                                                                                                                          • Gen Z students less convinced college is for everyone
                                                                                                                            • Figure 31: Agreement that everyone should continue education after high school, by student generation, October 2019
                                                                                                                          • Parents prefer comprehensive curriculums
                                                                                                                            • One quarter of students agree parents should have final say
                                                                                                                              • Figure 32: Lesser-held attitudes about higher education, among parents and students, October 2019
                                                                                                                          • Appendix – Data Sources and Abbreviations

                                                                                                                            • Data sources
                                                                                                                              • Consumer survey data
                                                                                                                                • Abbreviations and terms
                                                                                                                                  • Abbreviations
                                                                                                                                    • Terms
                                                                                                                                    • Appendix – The Consumer

                                                                                                                                        • Figure 33: Current higher education enrollment, October 2019
                                                                                                                                        • Figure 34: Planned higher education enrollment, October 2019
                                                                                                                                      • Correspondence Analysis Methodology
                                                                                                                                          • Figure 35: School perceptions among parents, October 2019
                                                                                                                                          • Figure 36: School perceptions among students, October 2019
                                                                                                                                        • TURF Analysis Methodology
                                                                                                                                            • Figure 37: TURF analysis – Parents, October 2019
                                                                                                                                            • Figure 38: TURF analysis – Students, October 2019
                                                                                                                                            • Figure 39: Table – TURF Analysis – School – Parents, October 2019
                                                                                                                                            • Figure 40: Table – TURF Analysis – School – Students, October 2019

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