Zero Hedge – Tyler Durden
“Soaring student debt, competition from online programs and poor job prospects for graduates are shrinking the applicant pools for many universities and, as Bloomberg reports, the National Association of Independent Colleges and Universities warns “there will clearly be some institutions that won’t make it…through these difficult steps.” Rather stunningly, Moody’s found that expenses are outpacing revenue at 60 percent of the schools it tracks even as many try to slash their way to balanced budgets,” and concluded “what we’re concerned about is the death spiral… this continuing downward momentum for some institutions.””(more)