Why students are turning to certificate and associate programs instead of four-year degrees

Students are shifting away from four-year degrees toward certificate and associate degree programs. A new study by the National Student Clearinghouse Research Center finds that enrollment in bachelor’s degree programs increased by just 0.9% in fall 2025. By comparison, enrollment in undergraduate certificate and associate degree programs rose by 1.9% and 2.2%, respectively. CNBC’s Jessica Dickler breaks down the reasons behind this trend.