Intense competition and a shrinking pool of students have contributed to declining enrollments and revenue. To understand the plight of many small universities and colleges across the country, but especially in Illinois, consider the case of Chicago's historic Roosevelt University in the South Loop. The school's student enrollment peaked during the past decade in 2014 and has since declined, dragging down its tuition revenue along the way. It's posted operating deficits every year since 2014.
https://www.chicagobusiness.com/education/roosevelt-university-poster-child-troubled-small-college
