Going to college immediately after high school has been a rite of passage for millions of students. Now, more college-bound students are considering a gap year amid rising coronavirus cases and concerns about the value of college instruction that may be partly or all online.
A new study out this week by SimpsonScarborough finds that 40 percent of incoming freshmen are likely or highly likely to not attend any four-year college this fall. Last week, Harvard reported that more than 20% of its first-year students are deferring enrollment.
But there could be a downside to delaying college by a year: the potential loss of $90,000 in lifetime earnings, according to a recent study from economists at the Federal Reserve Bank of New York. That might seem counter-intuitive, given that the pandemic has pushed the jobless rate higher, prompting questions from families about whether it’s the best time to make a