This week, undergraduate enrollment is up, Canada cuts a number of international student visas, The University of Chicago faces financial challenges, the FAFSA will be fixed, and several more universities settle a financial aid lawsuit.
For the first time since the pandemic, undergraduate enrollment numbers have increased, up
1.2% for the fall 2023 semester. Community colleges with vocational programs saw the greatest gains in enrollment.
Canada plans to reduce the number of international student visas it issues, projecting a 34% decline for 2024. With more than one million international students studying in Canada last year, the cuts will have a significant impact on admissions.
The University of Chicago is facing a financial crisis. Reports reveal a 2023 budget deficit of $239 million and a heavy debt load, within the context of a $3.1 billion operating budget. Increased enrollment and a declining endowment value have contributed to the challenging financial situation, which has already resulted in budget cuts and a temporary staff hiring freeze.
The Education Department has committed to fixing the FAFSA mistake that made families appear to have more income than they actually do. The erroneous math would have cost students $1.8 billion in federal aid. While the department plans to correct the error in time for the 2024-25 admissions cycle, no details as to how they will proceed have been released.
Several more institutions have reached a settlement in a financial aid antitrust lawsuit brought against 17 colleges that allegedly colluded to limit financial aid packages, acting as a “price fixing cartel.” The latest universities to reach an agreement are Brown, Columbia, Duke, and Yale.
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