The Chronicle of Higher Education
June 29th, 2015
Hundreds of colleges in the United States live on the financial
margins. Typically small and private, they struggle to pay bills,
recruit students, and raise money. Yet few of them fail.
As Sweet Briar College’s projected demise and unexpected revival
illustrate, small colleges are a resilient bunch. There are about 1,600
private, nonprofit four-year colleges in the United States, but only a
handful close each year. In 2012, the most recent year for which data
are available from the National Center for Education Statistics, just
two of those institutions shut down.