The number of college applications has reached a record high, resulting in a decline in acceptance rates and heightened competition. 

The number of college applications has reached a record high, resulting in a decline in acceptance rates and heightened competition. The Common Application, which helps process applications for thousands of universities, has witnessed a significant increase in total application volume; from 2019 to 2022, the number of applications rose by 30%, reaching 7M from the previous 5.4M. In turn, colleges and universities are accepting fewer of their applicants than ever. Harvard even hit its lowest point of acceptance rate in history, being at 3.19% in 2022—though this trend is not limited to Ivy Leagues as institutions like NYU, Northeastern, and Babson have experienced a surge in popularity, too. For students, it doesn’t help that social media is perpetuating a “storm of anxiety” about applying to prestigious schools and fueling a “fear of missing out” if they aren’t accepted. YPulse’s Education report data shows two in five middle / high school students would rather go to a college that is well-known but expensive than a cheaper state school—though location and tuition costs are still their top deciding factors. (Business Insider)