Colleges Fear the Bubble has Burst

The New York Times reports it might be the end of an era:

Colleges have been in the catbird seat for the past decade or so. As the number of high school students swelled, applications rose, allowing colleges to be more selective. And families benefiting from a flush stock market seemed willing to pay whatever tuition colleges charged.

But all that has changed. For students, the uncertainty could be good news: colleges will admit more students, offer more generous financial aid,and, in some cases, send acceptance letters a few weeks earlier. Then again, it could prolong the agony: some institutions say they will rely more on their waiting lists. But there is no question, admissions officers say, that this year is more of a students’ market.

“It’s like the dot-com bubble burst for higher ed,” said Barbara Fritze, vice president of enrollment at Gettysburg College in Pennsylvania. “We’ve been in this growth mode for a period of time. Now there’s a real leveling going on.”

You'll want to read the whole article.