90 out 1,687 private colleges have closed since 2016 alone, marking the worst year of college closures.

And in the span of three years, college enrollment has dropped by 8%. Potential students are no longer seeing the benefit of a college education, as it’s lost some of its respect and cache. EAB, a key educational consulting firm, conducted a survey polling recent high school graduates who decided to forgo a college education, as Campus Reform notes

The number one reason for doing so might surprise you. 20% of those surveyed said they simply weren’t “mentally ready” to enter college, sighting mental health concerns as a key reason for their decision. It further spotlights the mental health crisis facing our youth. 8.2% of them have reported experiencing extreme depression. The majority also said this depression caused problems in school, at home and in relationships. It’s no surprise that the concept of the traditional family is on a steep decline.

EAB President Hope Krutz said, “It’s no secret that the pandemic has taken a toll on student mental health and academic preparedness. So many negative effects of the pandemic make it harder for today’s students to see college as a viable option.”

These mental health concerns, coupled with the lack of faith in higher education, could spell doom for colleges nationwide. Wall Street Journal conducted a poll that revealed 42% of Americans don’t think that college is worth the expensive price tag.

Maybe it’s time to just go it alone. Back in the day, even if your education was poor, that piece of paper meant something. But now, the degree might not even be worth the paper it’s printed on.

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