Total enrollment at The New School dropped for the fourth year as the university reels from the pandemic, higher education challenges, and trouble with retaining students.

There are about 8,900 degree-seeking students enrolled this fall, according to an emailed comment from Merrie Snead, The New School’s Associate Director of Communications. This is the lowest number recorded in the last decade, according to enrollment data.

The Office of Finance and Business did not reply to a request for comment. University communications denied an interview with Richard Kessler, Provost and Executive Vice President for Academic Affairs.

The decline at The New School comes despite nationwide enrollment rebounding from the pandemic. According to the National Student Clearinghouse Research Center, total postsecondary enrollment has been steadily increasing since spring 2024. Enrollment in spring 2025 was up 3.2% from spring 2024; spring 2024 enrollment was up 2.4% from spring 2023.

The New School is dependent on tuition to operate, and drops in enrollment have contributed to the school’s ongoing financial troubles, Snead said.

85% of the university’s revenue comes from tuition, dining, and residence halls. The university overprojected enrollment by 500 students this year, according to a student presentation on Oct. 10. The overprojection contributed $15 million to the operating deficit, according to the Financial Transparency Committee. 

The projected operating deficit for the current fiscal year is $38 million.

The New School’s Operating Budget

The New School has been in a budget deficit since 2023.

Enrollment has declined at the New School since the pandemic. 2020 saw a drop of over 1,000 degree-seeking students. Enrollment surged in 2021 from the entrance of students who had deferred but most from that surge have graduated, according to Snead.

The New School’s Enrollment

Enrollment at The New School has been decreasing steadily since 2022.

The university also faces broader higher education troubles, like rising costs, demographic shifts, student loans, and a changing job market.

Students are also not staying at the university. Continuing enrollment continued to plummet this semester, according to a faculty- and staff-only presentation on Sept. 29. The post-pandemic jump in enrollment also led to a jump in continuing enrollment. But as students from that unusually large cohort graduated, continuing enrollment dropped.
The New School’s first-year retention rate is 82%, according to the latest data published in April 2025 to The New School’s College Scorecard. This is above the national average of 69.5%.

Retention Rates Over Four Years

Average for every 100 students.

However, Black students at The New School have the lowest rate of returning after their first year — 69%, according to the October 2024 issue of IR Digest. The rate for Latino students is 73%.

Retention Rates After Second Year

Retention rates are lower among Hispanic/Latino and Black/African American students.

The school’s low retention points to larger concerns of a lack of community at the university. According to results from the Fall 2024 Mid-Semester Check-In Survey, 76% of New School students reported feeling isolated or disconnected from their peers.

There’s also the question of cost-benefit, students say. Tuition at The New School, where the cost of attendance can reach over $90,000, was raised last year along with other universities around the country. Meanwhile, several services at The New School have been halted or slimmed by zero-based budgeting and a staff hiring freeze, as the university cuts costs to help stabilize its finances. 

While continuing enrollment and total enrollment are down, new undergraduate enrollment this semester has increased from last year to about 2,000. The number is almost where it was in 2019, according to enrollment data.

New international undergraduate enrollment is about the same as last year, although total international enrollment is down from last year, according to the fall 2025 issue of IR digest. Since January, the Trump administration has upended visa policies, which created an atmosphere of fear across the country. International students compose about 40% of the student body at the university — one of the highest rates in the nation.

The steady drops in enrollment and continuing enrollment at The New School comes as the university takes steps towards developing a finalized comprehensive stabilization plan amidst the ongoing financial crisis. 

Enrollment growth is not the whole solution, Snead said, but it’s part of it. 

The New School’s plans to grow enrollment include increasing recruitment efforts at the high school level, partnering closer with the Center for Military-Affilitated Students, leveraging the university’s presence on college search apps like Appily, Niche, and ZeeMee, and considering attracting students from newer geographic areas like Latin America and Africa.

Visuals by Jordan Fong