Most colleges are finding they must cut back spending and find ways to increase income, no longer relying on raising tuition. Although consolidating jobs, cutting academic programs, reducing financial aid, and delaying construction are already common among larger schools, small colleges fear the impact on their already limited budgets. (MSE)

Merrimack College (Massachusetts) has abandoned conservative strategies for investing its $16-million endowment, investing more in international stocks and bonds, real estate projects, and small companies to raise annual returns and increase endowment value. The small, Catholic college is heavily dependent on tuition. The diversification plan…

Nearly 11 years ago trustees of Wilson College (Pennsylvania) voted to close the institution. A group of alumnae brought a lawsuit to keep the college open, and since then the college's programs have been transformed to meet the changing interests and ages of its students. A division of continuing studies was created. (MLW)