Describes how a long-predicted decline in the fortunes of small private colleges is beginning to show up in the bond market, as the number of colleges now rated in the junk category has nearly doubled. (EV)

Many small liberal arts colleges nationwide are facing unprecedented challenges in finances and demographics. Unless they have name recognition, a sizeable endowment, or especially strong academic offerings, most struggle to attract students from outside their regions. To survive, colleges have been urged to expand adult education and distance…

Reports on the closing of Bradford College (Massachusetts), a small independent institution with a recent history characterized by shifting strategies, a heavy debt burden, and unrealistic enrollment projections. Compares Bradford's experience with that of Trinity College (Vermont), another small, struggling but surviving, institution. (DB)