Freshman enrollment at U.S. colleges dropped by 5% in Fall 2024, with four-year public and private institutions experiencing the sharpest declines. Experts attribute this trend to factors such as complications with the rollout of the 2024-2025 FAFSA, rising college costs, and a strong job market enticing high school graduates to enter the workforce. The decline has been especially pronounced among students of color and private colleges serving Pell Grant recipients, raising concerns about equity in access to higher education.

This downturn, however, creates opportunities for current college applicants. As schools work to fill their incoming classes, students may benefit from higher acceptance rates and more competitive financial aid packages. Experts encourage applicants to broaden their college search and consider a wider range of schools, rather than focusing solely on elite institutions.