TAIPEI -- A report released by Taiwan's education authorities forecasts that the number of freshmen on the island will drop by 2,900 annually on average over the next 16 years as a result of a low fertility rate.

According to the forecast, the number of freshmen will fall below 200,000 by 2025 and reduce to 177,000 by 2028. It is estimated that the number will remain around 177,000 by 2037.

The total number of university students is expected to dwindle by an average of 8,700 on a yearly basis and drop to 847,000 by 2037, according to the report.

The accumulated number of university students on the island had fallen below 1 million in 2021.

Bearing the brunt of the decline in the number of university students, about seven private universities on the island have closed affecting 2,400 students in recent years, according to the education authorities.

Statistics have shown that Taiwan's population has registered negative growth for the two years since 2020.