Demographics can be dealt with, but damaged products cannot be dealt with.
Half of the children 18 and under are minorities with each cohort that turns 18 a higher percentage minority than the previous one. Blacks and Hispanics are not performing well academically compared to whites and Asians.
Blacks and Hispanics are less likely to go to college. Hence the trend of declining enrollment by Americans. Colleges are making up the shortfall with foreign students. Add to that college costs that are increasing faster than inflation, which discourages attendance of both American and foreign students. The bottom line is the business model for colleges and universities is doomed in the long term.