Colleges are now closing at a pace of one a week. What happens to the students? — from hechingerreport.org by Jon Marcus
Most never finish their degrees, and alumni wonder about the value of degrees they’ve earned
About one university or college per week so far this year, on average, has announced that it will close or merge. That’s up from a little more than two a month last year, according to the State Higher Education Executive Officers Association, or SHEEO.
…
Most students at colleges that close give up on their educations altogether. Fewer than half transfer to other institutions, a SHEEO study found. Of those, fewer than half stay long enough to get degrees. Many lose credits when they move from one school to another and have to spend longer in college, often taking out more loans to pay for it.
…
Colleges are almost certain to keep closing. As many as one in 10 four-year colleges and universities are in financial peril, the consulting firm EY Parthenon estimates.
Students who transferlose an average of 43 percentof the credits they’ve already earned and paid for, the Government Accountability Office found in the most recent comprehensive study of this problem.
Also relevant: