It’s hardly front-page news that trust in higher education is at an all-time low. But what is overlooked is just how dire the situation is for small, private colleges with meagre endowments. Last year, for example, 14 of these institutions closed, the victims of plummeting enrollment. In the New York metropolitan area, some institutions have been forced to sell off portions of their real estate to stay alive. Such colleges’ plight is partially attributable to the falling birthrate since the Great Recession, but the far more important cause is the disconnect between what these colleges offer and what students want....
