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According to National Center for Education Statistics charts, public higher education institutions overall experienced increased revenues in recent years, but private colleges saw a $46 Billion loss in revenues from 2013 to 2015.
In 2016, EY suggested that as many as 805 colleges faced significant challenges due to low enrollment numbers and unsustainable finances.
Some of private college revenue losses may due to a tuition discounting. In any case, drops in institutional revenues for a significant period require cost cutting, which frequently means cuts in teachers, staff, and financial aid. Conditions at individual private colleges may be vastly different, from thriving and growing to downsizing and closing.