The U.S. is anticipating hitting its "peak high school graduate" in 2025 or 2026, with around 3.9 million young people graduating. After that, the number of students will decline, with school expecting to experience a decade-long dry spell they're referring to as an "enrollment cliff," according to a report by Axios.

Notably, a birthrate drop after the 2008 recession is partly to blame. Meanwhile, K-12 schools — most of which are located in cities that lost a portion of their population amid the Chinese coronavirus pandemic — are also closing down.