Report: The Biggest Barriers to Higher Ed Enrollment Are Cost and Lack of Financial Aid
By Maria Carrasco, NASFAA Staff Reporter
U.S. adults who either stopped out, or never enrolled in a postsecondary education program, collectively cited the biggest barrier to accessing a degree or credential is the rising cost of college.
These findings were part of an annual report conducted by Gallup and Lumina Foundation, which aims to learn more about U.S. adults' interest in pursuing higher education, what's keeping them from enrolling, and what's causing currently enrolled students to consider stopping out.
The report includes responses from over 14,000 U.S. adults, aged 18 to 59 who do not have a college degree and fall into one of the following groups – currently enrolled students; adults who were previously enrolled in a certificate, certification, associate degree, or bachelor’s degree program but stopped out of their program before completing it; and adults who never enrolled in any type of education after high school.
According to the report, 85% of adults – who either stopped out or never enrolled in a higher education program – said an important reason why they weren’t currently enrolled is because of the cost of the degree or credential program. Further, 77% of these adults cited their need to work as an important reason why they weren’t currently enrolled in a program.
Among adults who are currently enrolled in a higher education program, 31% considered stopping out due to the cost of the degree or credential program. Overall 35% of currently enrolled students said they have considered stopping out in the past six months and of that group, 54% say they struggle to pay monthly bills.
The report noted that while cost is the predominant barrier for unenrolled adults of all ages, genders and races, certain subpopulations of unenrolled adults face unique barriers. For instance, nearly two-thirds of women say cost is a very important barrier to enrollment, compared with less than half of men.
As for what could make an adult enroll into higher education or stay enrolled, 66% of adults without a college degree said that the cost of college, including tuition and room and board, was an important factor. Among current, former, and prospective students, 53% said financial aid or scholarships was an important factor on whether they would continue in their program or potentially enroll into a program.
With college costs being the biggest barrier for prospective students, Gallup and Lumina Foundation noted the importance of addressing these barriers – especially as the Georgetown Center on Education and the Workforce projects that by 2031, 72% of jobs will require some kind of education beyond high school. So far, Lumina estimates that 54% of U.S. adults aged 25 to 64 have met that education threshold.
“Ensuring these educational pathways are accessible to as many Americans as possible is not just a boon to those individuals’ careers and finances; the future of the U.S. economy depends on it,” the report read. “Closing that gap will rely on helping those who are considering higher education overcome the barriers currently preventing them from enrolling, persisting and completing a degree or credential.”
Other surveys show similar findings, including a recent report from Ellucian, which found financial instability is creating challenges with student retention in higher education. Out of over 1,500 U.S. college students, 59% said they considered dropping out due to financial stress. At the same time many students surveyed identified financial stress as affecting their college experience.
College affordability is more important than ever — especially in the year of the 2024-25 FAFSA rollout — which is why The College Cost Transparency (CCT) initiative is asking institutions to commit to its principles and standards in financial aid offers to help bring clarity and transparency around the cost of college to students and families. So far, more than 550 institutions from all 50 states, Puerto Rico, and Guam have joined as a partner institution.
If you are interested in participating in CCT be sure to submit your commitment before August 31 for a chance to win one of three complimentary registrations to NASFAA 2025 in Anaheim!
Publication Date: 7/16/2024
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