Part 6/12:
The decline in college enrollments isn't just a challenge for educational institutions; it extends to the entire economy. Nick emphasized that higher education expenditure accounts for roughly $700 billion annually—about 3% of U.S. GDP. A significant decrease in enrollment could subtract as much as 1% from national GDP, translating to hundreds of billions of dollars over time.
Higher education also functions as a major export industry for the U.S., with international students contributing significantly to institution revenues and cultural influence. Restrictions on international students or a decline in foreign enrollments could diminish America's global soft power and economic output.