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Colleges are now closing at a pace of one a week. What happens to the students?


Higher Education – The Washington Post

Student Luka Fernandes’ experience with Newbury College’s closure reflects a growing trend of college shutdowns due to financial instability. The rate of closures has increased, with about one college announcing closure or merger per week this year. Many students at closing colleges abandon their education, with fewer than half transferring to other institutions. The closures follow a 14% enrollment decline over the past decade. Several colleges have already announced closures this year, and up to 1 in 10 four-year colleges are financially at risk. New federal rules will require colleges to report bankruptcy or costly legal judgments and reserve funds to cover student loans if they close.

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