Report: More college closures ahead - Ben Unglesbee, Education Dive

With enrollment and tuition revenue under pressure across the country, many colleges — especially small, private nonprofits — are under financial stress and could look to merge or face closure. Of those scenarios, closure is more likely given the difficulties in merging colleges, according to a report last week from credit ratings firm S&P Global. Chief among the challenges for merging colleges is aligning the interests of numerous powerful stakeholders, including boards, senior management, faculty groups, alumni and students. Moreover, the analysts said in the report, "Every school has a unique brand, culture, mission, and history — and can be very reluctant to give these up." That leaves closure as the more likely option for schools under severe financial distress, though mergers carry potential benefits, including expanded programs, geographic reach and enrollment base. The analysts anticipate closures and consolidation will continue throughout the industry, especially in the Northeast and Midwest, with small private colleges as "prime candidates" for this activity. https://www.educationdive.com/news/report-more-college-closures-ahead/551055/