Past performance….

When the economy tanks, graduate school applications go up. That’s one of the few bits of good news in which educators could have reasonably taken comfort this year. No more.

The number of students taking the Graduate Record Examination will decline in 2008, the first time ever that the GRE has seen a fall in test-taking during an economic downturn. Because the GRE is required for the vast majority of graduate school programs, its numbers closely correlate with trends in applications….

…On Friday, David G. Payne, associate vice president of ETS for college and graduate programs, said that the “current hypothesis” is that the credit crunch is discouraging some people from considering graduate school, especially if they think they will not receive substantial financial support from the programs they might consider.

via Inside Higher Ed