In this weak economy, private colleges are feeling a serious pinch.
Around North Carolina, small, private colleges are scrambling to pay their bills. Some are actually merging with other institutions. At many, enrollment is dropping.
As my colleague Jane Stancill reports today, private colleges without the benefit of massive endowments are slashing budgets, freezing hiring, laying off employees and delaying construction projects, all in effort to just get by.
This isn't just a North Carolina phenomenon. In Atlanta, for example, one small college didn't pay the water bill and thus can't open for the next semester.