Core Insights - The number of graduate school applicants in China is declining after reaching a peak of 4.74 million in 2023, with projections of 4.38 million in 2024 and 3.88 million in 2025, indicating a significant decrease in the "graduate school craze" [2][4] - In contrast to the declining number of applicants, tuition fees for graduate programs are increasing, with notable hikes such as a 67% increase for a master's program at a C9 university and a doubling of fees for a translation master's program at a 985 university [3][4] Group 1: Trends in Graduate Education - The "graduate school craze" in China is clearly waning, as evidenced by the drop in application numbers over the past two years [2][4] - Despite the decline in applicants, many universities are raising tuition fees, creating a paradox in the current educational landscape [4] Group 2: Financial Considerations for Students - Potential students and their families are reassessing the value of investing in graduate education, weighing the costs against potential returns in a context of educational inflation [5] - Students like Lin Xiao and Chen Qi express concerns about the high costs of tuition, with Lin Xiao's program costing 228,000 yuan for two years and Chen Qi's program costing 208,000 yuan [8][12][15] Group 3: Student Perspectives - Lin Xiao, a prospective student, reflects on the pressure of high tuition fees and the support from her family, indicating a trend where families are heavily involved in financing education [10][11] - Chen Qi, currently in her first year of graduate studies, expresses regret over the high costs but acknowledges the necessity of further education for career advancement [12][16] - Gao Xi, an MBA student, highlights the benefits of returning to school after work experience, emphasizing the synergy between her studies and professional development [17][20]