Public colleges last year experienced their sharpest annual decline in tuition revenue since 1980, driven partly by plunging enrollments.
Public colleges report sharpest decline in tuition revenue since 1980
“After years of steady enrollment increases since the data collection began, the number of students enrolled in public institutions slowly declined, both nationally and across states, over the last decade,” Kelsey Kunkle, a SHEEO policy analyst, wrote in the report. According to CollegeBoard, which does not adjust its numbers for inflation, the average annual tuition for in-state students at a four-year public university rose by 2.5% from $10,990 in the 2022-23 school year to $11,260 in 2023-24.The SHEEO report counted 10.2 million full-time students at public institutions last year, down 0.5%, or 50,464 people, from 2022.According to Ms. Kunkle, declining revenues affected public colleges in 37 states and contributed to government funding increases.
Nationwide, state education allocations per student, with federal COVID-19 relief funds included, were 6.7% higher last year than in 2008. In 2022, they were 3.1% higher. State tax appropriations accounted for $106.1 billion or 81.7% of that total. Nearly $5.4 billion came from non-tax sources such as state lotteries and $3.5 billion from state-funded endowments and similar funds.
Public colleges received $1.7 billion in federal stimulus funding in 2023, down 26.6% or $609.3 million from 2022.
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