Failing Colleges Could Become Catalysts for a New Era in Higher Education
A wave of college closures has left many institutions financially vulnerable, but experts argue that these assets could be repurposed to reshape higher education.
The past academic year saw roughly two dozen colleges announce closures before students could graduate, adding to a trend of over 80 shutdowns or mergers since 2020 and putting roughly a quarter of private colleges at risk. Declining enrollment, driven partly by fewer college-age Americans, is compounded by a perception that many schools fail to deliver worthwhile outcomes. Advocates propose that wealthy donors and community leaders purchase these failing campuses, repurpose their facilities and alumni networks, and redesign programs around open discourse, Western traditions, AI, apprenticeships, or single-industry focus.
Such takeovers would be cheaper than building new campuses and would inherit existing accreditation, though they may encounter resistance from entrenched faculty.
Why it matters
College closures threaten access to education, but turning failing campuses into innovative schools could revitalize the sector.
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