CHART OF THE MONTH: AUGUST 2009
During a recession, many consumers seek out products with the greatest value for the lowest cost. Much to the chagrin of many academics and cost-insensitive higher education pundits, education seems to be one of these very products. Community college enrollments have swelled to nearly nine times their 1963 levels, with over half of this increase (54%) seen during eleven recessionary years. The accompanying graph shows relative market share among two-year and four-year public institutions with special emphasis on recessionary periods. The growing importance of the 2-year sector is evident, reflected not only in recessionary phases, but also in the overall reduction in four-year market share over the past 44 years as well. Enrollment estimates for fall of 2009 are shaping up to be suspiciously consistent.