Public and private institutions are flagging near‑term liquidity and endowment pressures. Southern Oregon University told trustees it faces a rapid cash‑decline and could hit negative balances by spring 2027 unless it secures new resources; leaders enacted immediate hiring and travel freezes and are seeking legislative support. Meanwhile, Princeton’s president announced multi‑year budget tightening driven by slowed endowment returns and higher costs, signaling a shift from recent expansionary years. The twin stories illustrate how attrition in investment returns and enrollment shifts are forcing colleges to reprioritize spending, preserve cash, and scrutinize capital projects. Boards and presidents should accelerate scenario planning, stress‑test cash flows, and explore cost containment tied to strategic mission priorities.