While total bachelor's degree enrollment has dipped to 8.2 million, the landscape of who pursues this credential, what they study, and the tangible payoff they can expect is dramatically shifting, with STEM fields surging, online options expanding, and a persistent earnings premium of 66% over a high school diploma.
Key Takeaways
- In fall 2022, total undergraduate enrollment in degree-granting postsecondary institutions was 15.4 million, with bachelor's degree programs accounting for 8.2 million students
- Between 2011 and 2022, bachelor's degree enrollment decreased by 12% from 9.3 million to 8.2 million students
- In 2022, public 4-year institutions enrolled 5.1 million bachelor's-seeking students, representing 62% of total bachelor's enrollment
- The 6-year graduation rate for first-time, full-time bachelor's students at 4-year institutions was 64% for the 2016 cohort
- Public 4-year institutions had a 63% 6-year graduation rate for 2016 bachelor's cohort
- Private nonprofit 4-year graduation rate was 68% for 2016 cohort
- Bachelor's degree holders aged 25-34 had median weekly earnings of $1,432 in 2022, 66% higher than high school graduates
- Unemployment rate for bachelor's holders was 2.2% in 2022, vs. 4.0% for high school only
- Lifetime earnings premium for bachelor's degree is $2.8 million over high school diploma
- In 2022, 39.8% of 25-34 year-olds held bachelor's degrees, up from 34% in 2012
- Women aged 25-34 attainment rate 43% for bachelor's vs. 36% men in 2022
- Asian Americans 25-34: 64% bachelor's attainment in 2022
- Average student loan debt for bachelor's graduates was $29,800 in 2022
- Total student loan debt for bachelor's holders exceeded $1.6 trillion in 2023
- Public 4-year average net price for bachelor's $14,270 after aid in 2022
Bachelor degree enrollment is declining overall but STEM and online programs are growing significantly.
Demographic Trends
- In 2022, 39.8% of 25-34 year-olds held bachelor's degrees, up from 34% in 2012
- Women aged 25-34 attainment rate 43% for bachelor's vs. 36% men in 2022
- Asian Americans 25-34: 64% bachelor's attainment in 2022
- Whites 25-34: 42% bachelor's holders in 2022
- Hispanics 25-34: 24% bachelor's attainment, doubled since 2000
- Blacks 25-34: 26% bachelor's degrees in 2022
- First-generation adults 25+ attainment 23% vs. 50% for parents with degrees
- Urban areas 25-34 bachelor's rate 45% vs. rural 32% in 2022
- Immigrants 25-34 bachelor's attainment 38% in 2022
- Low-income family background: 25% bachelor's attainment age 25-34
- High-income: 65% attainment for 25-34 in 2022
- Military veterans 25-34: 35% bachelor's holders post-service
- LGBTQ+ youth bachelor's attainment projected 40% by 2030, current 35%
- Single parents age 25-34: 18% bachelor's degrees
- Married 25-34: 48% bachelor's attainment 2022
- Northeast region 25-34: 48% bachelor's rate highest in 2022
- South 25-34: 33% attainment lowest regional in 2022
- Midwest 25-34: 38% bachelor's holders 2022
- West 25-34: 42% attainment 2022
- Adults 25+ overall bachelor's attainment 37.7% in 2022
- Men 25+ bachelor's rate 36.2%, women 39.0% in 2022
- Native Americans 25-34: 19% bachelor's lowest racial group 2022
- Pacific Islanders 25-34: 22% attainment 2022
- Bachelor's degrees awarded to men declined 5% from 2012-2022
- Women received 60% of all bachelor's degrees in 2021-22
Demographic Trends Interpretation
The road to higher education is being increasingly paved by women and the affluent, yet it remains stubbornly pocked by the potholes of racial and economic inequality.
Economic Outcomes
- Bachelor's degree holders aged 25-34 had median weekly earnings of $1,432 in 2022, 66% higher than high school graduates
- Unemployment rate for bachelor's holders was 2.2% in 2022, vs. 4.0% for high school only
- Lifetime earnings premium for bachelor's degree is $2.8 million over high school diploma
- STEM bachelor's graduates earned median $90,000 starting salary in 2022
- Business administration bachelor's median starting salary $60,000 in 2022
- Engineering bachelor's unemployment was 1.9% in 2022, lowest among majors
- Education majors' median earnings $52,000 mid-career
- 80% of bachelor's holders were employed full-time in 2022
- Underemployment rate for recent bachelor's grads was 41% in 2022
- ROI for bachelor's degree averages 15% annually over 40 years
- Computer science bachelor's mid-career median $130,000 earnings in 2022 data
- Humanities bachelor's unemployment 4.1% in 2022, higher than average
- Health sciences bachelor's starting salary $65,000 median 2022
- Male bachelor's holders earned 12% more than females at median in 2022
- Black bachelor's holders median earnings $68,000 vs. $82,000 white in 2022
- ROI highest for petroleum engineering bachelor's at $1.5 million net present value
- 62% of bachelor's holders in 2022 had jobs requiring degree
- Social work bachelor's median $55,000 mid-career
- Bachelor's grads in management occupations: 25% share in 2022
- Arts bachelor's underemployment 52% in first year post-grad 2022
- Law enforcement bachelor's median $70,000 mid-career
- 25-34 bachelor's holders poverty rate 4.7% vs. 21% high school in 2022
- Bachelor's in finance starting $65,000 median 2022
- Communications bachelor's unemployment 4.0% 2022
- Public administration bachelor's earnings $75,000 mid-career median
- 70% of Fortune 500 CEOs hold bachelor's degrees in 2023 survey
- Bachelor's holders homeownership rate 68% vs. 50% high school in 2022
Economic Outcomes Interpretation
While the data clearly shows a bachelor's degree is generally a lucrative investment with higher earnings, lower unemployment, and a path out of poverty, it also soberly reveals that the payoff is wildly uneven, saddled with underemployment, and stubbornly stratified by major, gender, and race.
Enrollment Statistics
- In fall 2022, total undergraduate enrollment in degree-granting postsecondary institutions was 15.4 million, with bachelor's degree programs accounting for 8.2 million students
- Between 2011 and 2022, bachelor's degree enrollment decreased by 12% from 9.3 million to 8.2 million students
- In 2022, public 4-year institutions enrolled 5.1 million bachelor's-seeking students, representing 62% of total bachelor's enrollment
- Private nonprofit 4-year institutions had 2.4 million bachelor's enrollees in 2022, a 5% decline from 2011
- Women comprised 58% of bachelor's degree enrollees in fall 2022, totaling approximately 4.8 million female students
- Full-time bachelor's students numbered 6.7 million in 2022, while part-time were 1.5 million
- Enrollment in STEM bachelor's programs reached 2.1 million in 2022, up 15% since 2010
- Business bachelor's enrollment was 1.9 million in 2022, the largest field at 23% of total
- Health professions bachelor's enrollees totaled 1.2 million in 2022, growing 25% over the decade
- Social sciences and history bachelor's enrollment stood at 1.1 million in 2022
- In 2022, 36% of recent high school graduates enrolled immediately in 4-year colleges for bachelor's degrees
- First-time freshman bachelor's enrollment was 1.8 million in fall 2022, down 8% from 2019 pre-pandemic levels
- Community college transfers to bachelor's programs averaged 1.2 million annually from 2015-2022
- Online bachelor's enrollment surged to 2.9 million in 2022, 35% of total undergrads
- International students in bachelor's programs numbered 456,000 in 2022, 5.6% of total
- Hispanic/Latino bachelor's enrollees reached 1.7 million in 2022, up 45% since 2010
- Black bachelor's enrollees were 1.0 million in 2022, 12% of total despite 14% population share
- Asian bachelor's enrollees totaled 900,000 in 2022, highest proportional at 28% attainment rate
- First-generation college students comprised 56% of bachelor's enrollees in 2022
- Age 18-24 bachelor's enrollment was 7.5 million full-time equivalent in 2022
- Nonresident alien bachelor's enrollment grew 20% from 2012-2022 to 1.0 million
- Bachelor's enrollment in the South region was 3.2 million in 2022, 39% of national total
- Midwest bachelor's enrollment declined 18% since 2011 to 1.7 million in 2022
- West region hosted 2.1 million bachelor's students in 2022, stable over decade
- Northeast bachelor's enrollment was 1.2 million in 2022, down 10% from peak
- For-profit 4-year bachelor's enrollment dropped 60% since 2011 to 150,000 in 2022
- Public 2-year to 4-year bachelor's transfer rate was 16% nationally in 2022 cohorts
- Bachelor's programs in psychology enrolled 130,000 students in 2022
- Engineering bachelor's enrollment hit 130,000 in 2022, up 30% in decade
- Biological sciences bachelor's enrollees were 140,000 in 2022
Enrollment Statistics Interpretation
While bachelor's enrollment has soberly shrunk by 12% overall since 2011, the landscape is being reshaped by a savvy surge in online learning, a determined drive toward STEM and health fields, and a commendably more diverse student body, even as traditional geographic and institutional strongholds face a reckoning.
Financial Aspects
- Average student loan debt for bachelor's graduates was $29,800 in 2022
- Total student loan debt for bachelor's holders exceeded $1.6 trillion in 2023
- Public 4-year average net price for bachelor's $14,270 after aid in 2022
- Private nonprofit 4-year net price $28,550 for bachelor's in 2022
- 45% of bachelor's graduates borrowed federally in 2022 cohort
- Average borrowing amount $28,950 for public 4-year bachelor's grads 2022
- Private nonprofit grads average debt $37,600 in 2022
- For-profit bachelor's grads average $40,200 debt highest in 2022
- In-state tuition average $10,560 public 4-year 2023
- Out-of-state $28,240 average tuition public 4-year 2023
- Private 4-year tuition $39,400 average 2023
- Pell Grants covered 31% of costs for low-income bachelor's students 2022
- 55% of bachelor's families paid nothing out-of-pocket after aid in 2022
- Merit aid average $4,100 for bachelor's students 2022
- Institutional grants averaged $10,200 for private bachelor's 2022
- 20-year ROI after debt for average bachelor's $250,000 net gain
- Default rate on federal loans for bachelor's grads 7.1% within 3 years 2022
- Forgiveness programs relieved $150 billion debt for 4 million borrowers by 2023, many bachelor's holders
- Work-study participation 5% of bachelor's students, earning average $2,000/year
- Family contribution average $5,500 for dependent bachelor's students 2022
- Net price as % income: 24% low-income, 14% high-income for bachelor's 2022
- Tuition inflation 180% since 1980 for bachelor's programs adjusted
- Average scholarship $7,200 per bachelor's recipient 2022
- 529 plan savings used by 10% of bachelor's families, average $15,000 balance
Financial Aspects Interpretation
The price of a degree is steep, but with half of families paying nothing upfront and an eventual $250,000 return on average, the real calculation is whether you're investing in a future of promise or just a pile of cleverly marketed debt.
Graduation Rates
- The 6-year graduation rate for first-time, full-time bachelor's students at 4-year institutions was 64% for the 2016 cohort
- Public 4-year institutions had a 63% 6-year graduation rate for 2016 bachelor's cohort
- Private nonprofit 4-year graduation rate was 68% for 2016 cohort
- Private for-profit 4-year bachelor's graduation rate stood at 29% for 2016 cohort
- 8-year graduation rate reached 66% overall for 2014 bachelor's cohort
- Women had a 67% 6-year graduation rate vs. 60% for men in 2016 cohort
- Black students' 6-year graduation rate was 46% at 4-year institutions for 2016 cohort
- Hispanic students achieved 55% 6-year graduation rate in 2016 cohort
- White students' rate was 67% for 6-year bachelor's completion in 2016
- Asian students led with 76% 6-year graduation rate in 2016 cohort
- Pell Grant recipients had 54% 6-year graduation rate vs. 70% for non-recipients in 2016
- STEM majors had 70% 6-year graduation rate compared to 60% in humanities for 2016 cohort
- Business majors' 6-year rate was 65% for 2016 entrants
- Health professions 6-year graduation rate reached 80% for 2016 cohort
- Engineering bachelor's 6-year completion was 72% in 2016 cohort
- Arts majors had lowest 6-year rate at 52% for 2016 cohort
- First-generation students graduated at 50% rate vs. 70% continuing-gen in 6 years, 2016 cohort
- Rural students' 6-year rate was 62%, urban 65% for 2016 bachelor's cohort
- Stop-out rate before graduation was 28% for bachelor's seekers in 2016 cohort
- Average time to bachelor's degree was 5.1 years for 2016 cohort
- 150% normal time completion was 40% for bachelor's programs in 2021-22
- 200% normal time was 57% for bachelor's in 2021-22 IPEDS data
- HBCU bachelor's 6-year rate averaged 42% for 2016 cohort
- Community college starters to bachelor's completion within 6 years: 14%
- Online-only bachelor's programs had 25% 6-year graduation rate for 2016 cohort
- Retention rate year 1 to year 2 was 76% for full-time bachelor's students in 2022
- Public university retention rate was 78% for 2022 fall cohort
- Ivy League retention approached 99% for 2022 bachelor's freshmen
Graduation Rates Interpretation
These statistics reveal an academic landscape where one's demographics, chosen major, and institution type often shape graduation odds more dramatically than raw intellect, painting a picture of higher education as both a powerful engine of opportunity and a system fraught with persistent equity gaps.
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