This paper studies the factors that determine the decision of the individuals to enroll in higher education in Colombia. A panel data is estimated at the level of each Higher Education Institution using data from the Ministry of Education, Icetex and the household surveys for the 13 largest metropolitan areas between 2000 and 2006. The main findings of the study suggest that the educational supply has great influence over the enrollment rates of Higher Education Institutions, particularly in the public ones. Also, the employment dynamics, especially of people with high school education, plays a significant role on the decisions of individuals to enter higher education and on choosing their educational level.