The higher‑education sector continued consolidation in 2025: at least 15 college campuses closed and a dozen institutions merged or were acquired as tuition‑dependent models strained under demographic and financial pressures. The closures skewed toward small, private regional colleges; public systems also consolidated low‑enrollment campuses. Examples include Augustana College's announced acquisition of Trinity College of Nursing and Health Sciences to stabilize health‑education pipelines, and a planned merger between Pacific University and Willamette University to create Oregon's largest private university. Leaders cited operational sustainability, alignment with workforce needs and accreditors' oversight as driving factors. Institutional leaders should plan liquidity buffers, explore consortium models, and begin contingency communications with students, faculty and clinical partners when enrollment or state funding pressures mount. Trustees must treat M&A and teach‑out planning as core fiduciary responsibilities.