The South Loop arts and media college will report a $3.7 million annual operating budget deficit next month—the first in recent history for the 129-year-old school. It would have been worse without a faculty buyout program and staff cuts last spring. Columbia's enrollment peaked at 12,000-plus students in 2008 and has been sliding ever since, pulling down tuition revenue. It's shrinking partly by design after the private school ended its practice of accepting all applicants, but it also stumbled in adapting to more competition in higher education.
https://www.chicagobusiness.com/education/columbia-college-chicagos-uphill-climb
