With the current economic problems, colleges and universities seem to be the next to go in a line of institutional failures that hit banks, mortgage companies, and automobile companies. Forbes.com talks of possible college and university mergers to save them from collapse.
The crush is coming fast. According to a September 2008 study by the National Association of Independent Colleges and Universities, of the 504 member institutions surveyed, one-third said the cedit crunch had hurt enrollment, and about a fifth of respondents said they had fewer returning students than expected. Roughly the same number said they had a smaller incoming freshman class than expected.