New Report Finds Institutional Size Matters to Prospective Students, But Is Not the Dominant Factor in College Choice
Survey of nearly 1,500 prospective students suggests enrollment growth at very large universities is driven by value, academic quality, flexibility, and opportunity—not size alone
BIRMINGHAM, Ala., July 14, 2026 /PRNewswire/ -- A new report from the TIAA Institute, authored by Ricardo Azziz, Richard Katzman, Gary Stocker, and Karla Leeper of the Center for Higher Education Mergers and Acquisitions, CHEMA finds that while institutional size plays a role in where prospective students choose to apply and enroll, it is not the primary factor driving college selection.
The report, Student Preference for Size of Colleges and Universities, examines survey results from nearly 1,500 prospective undergraduate and graduate students across the United States. Conducted in July 2025 in partnership with Hanover Research, the survey explores how institutional size influences student preferences and whether the growing enrollment advantage of very large universities reflects a simple preference for larger campuses. You can access the full report here: Student Preference for Size of Colleges and Universities.
According to the findings, 63% of respondents said institutional size was at least moderately influential in their decision on where to apply. However, only 12% ranked university size among their top five factors when deciding where to pursue their education. By comparison, students placed greater emphasis on overall value for the cost, financial aid packages, flexible program formats, academic quality, and employment prospects after graduation.
The report also found that most prospective students prefer medium- to large-sized institutions. Sixty-seven percent favored medium-sized colleges or universities with 1,000 to 9,999 students, while 42% preferred large institutions with 10,000 to 19,999 students. Only 14% said they preferred very large institutions with 20,000 or more students.
"These findings suggest that the continued enrollment growth of very large colleges and universities is not simply a matter of students preferring bigger institutions," the authors note. "Rather, larger institutions appear to be competing effectively across multiple dimensions that students value, including cost, program options, academic quality, flexibility, and career opportunities."
The report highlights that students who prefer large or very large institutions are not choosing them because of size per se, but rather because larger institutions tend to offer a broader range of options. These include more program and course offerings, expanded job and internship opportunities, greater resources, increased diversity, and more social opportunities. In contrast, students who prefer small- to medium-sized institutions are more likely to value smaller class sizes, closer relationships with faculty and staff, personalized attention, and a less crowded campus.
The findings carry important implications for smaller colleges and universities, particularly as many institutions face declining demographics, rising costs, and growing questions about the perceived value of higher education degrees. The report suggests that smaller institutions may need to better articulate and strengthen their value proposition, especially when competing directly with larger universities. The full report, Student Preference for Size of Colleges and Universities, was published by the TIAA Institute as part of its April 2026 Trends and Issues series.
About the Center for Higher Education Mergers and Acquisitions (CHEMA)
The Center for Higher Education Mergers and Acquisitions is affiliated with the Foundation for Research and Education Excellence (FREE Foundation) and focuses on research, analysis, and thought leadership related to higher education transformation, institutional strategy, mergers, acquisitions, and partnerships.
SOURCE CHEMA, FREE Foundation
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