The impact of demographic shifts and enrollment declines for higher education are examined, and possible institutional responses to these problems are studied. After a review of the national statistics and projections of future enrollment trends, attention is directed to the campus level and the dimensions of current enrollment problems. Based on a 1981 national survey of college presidents and admissions directors, the following issues are considered: how campus presidents view their respective institution's ability to tolerate the expected difficulties ahead; the dimensions of the enrollment problem for individual campuses; and institutional finances in light of anticipated cuts in government support. Institutional response to enrollment problems include enrollment management and information systems, marketing, and student recruitment practices. Research on student attrition has revealed the following negative financial and programmatic consequences for the institution: direct loss of revenue, recruitment and image costs, and undermining of the diversity of the curriculum. Policy areas that should be addressed by campuses facing enrollment problems include: planning strategies, including cost studies, enrollment forecasts, and program review; shared decision-making between the faculty and the administration; staffing and personnel policies; and the revitalization of student life and the linkage of faculty and student affairs personnel. The activities of eight liberal arts colleges that are reducing attrition rates by direct action and cooperative effort are also reviewed. A bibliography is appended. (SW)