Colleges Are Closing. Who Might Be Next?

“Northland College in Ashland, Wisconsin, held its final commencement ceremony in 2025 before closing permanently due to financial challenges and declining enrollment. The college had been in operation since 1892. “How did you go bankrupt?” one American expat asks another in Ernest Hemingway’s The Sun Also Rises . “Two ways,” his friend responds. “Gradually and then suddenly.” The most dramatic...

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