Why has the trend of students going for higher studies in the past decade increased tremendously?

Knowledge is power and is forever changing. The fact that a higher education can land you a career is one way of looking at. Most companies are asking that you have a BA or higher for even a basic sales position. 

21 Century - people have to be more educated 

Two factors have more impact among many others in this regard:

- Growing competition in all fields.

- More scholarships for higher education.

Because of scientific progress that we live with in mind that each person reasons