Projections show that by next year or the year after, the annual number of high school graduates in the United States will peak at about 2.9 million after a 15-year climb. The number is then expected to decline until about 2015. Most universities expect this to translate into fewer applications and less selectivity, with most students likely finding it easier to get into college.
Math Suggests College Frenzy Will Soon Ease - New York Times
Only this to say: "About time."