This case study is designed for graduate students interested in higher education finances. It presents the challenges that higher education is facing regarding financial exigency elements that have led to responses with a primary focus on mergers. This financial exigency process has also caused increased legal considerations in higher education settings as administrators, faculty, staff, and alumni challenge finances in academic settings. This case highlights the complex issues that administrators must confront while considering mergers that will provide students an opportunity to evaluate the complex issues related to the financial status of an institution of higher education.