Colleges & Universities NAICS 611210, 611310

May 15, 2025 - More Community Colleges Offer Bachelor’s Degrees

• About half of US states allow community colleges to offer bachelor's degrees and the number is increasing, according to National Public Radio (NPR). The increase is driven by lack of access to four-year, degree granting universities. About 13 million adults live beyond a reasonable commute from the nearest four-year university, according to estimates by the American Council on Education. That problem is getting worse as private colleges in rural places close, public university campuses merge or shut down, and rural universities cut majors and programs as enrollment and budgets decrease, according to NPR. States currently considering letting community colleges offer bachelor's degrees include Iowa, Illinois, Kentucky, and Texas.
• Many universities have instituted hiring freezes and reduced graduate programs as a result of Trump administration funding cuts, according to Fast Company. Harvard University, the University of Washington, and the University of Pittsburgh are the latest to announce hiring freezes, joining institutions including North Carolina State University, Columbia University’s medical school, the University of Notre Dame, Emory University, Cornell University, Stanford University, Massachusetts Institute of Technology, Northwestern University, and the University of California, San Diego, according to National Public Radio. Universities including Northwestern, Emory, and the University of Pennsylvania have instituted budget cuts, expenditure freezes, and capital spending reviews.

• The purchasing power of federal financial aid programs such as the Pell Grant, which once covered a substantial portion of college costs, has eroded, according to The Center for American Progress. More students have had to take on larger debts to attend college, to the detriment of their financial futures. These economic pressures make it increasingly difficult for contemporary students to focus solely on their studies, leading to higher dropout rates and longer time to degree completion for those who manage to stay enrolled.
• College and university industry employment has rebounded and was near pre-pandemic levels in early 2025, according to the US Bureau of Labor Statistics. College and university industry revenue is forecast to grow at a 33.37% compounded annual rate from 2025 to 2029, slower than the growth of the overall economy, according to Inforum and the Interindustry Economic Research Fund, Inc. Sources of revenue include tuition and fees; federal, state and local government funding; auxiliary enterprises (dorms, bookstores); endowment income; investment return, gifts and grants; and contracts.