The New School said it will shrink its workforce by roughly 7% through voluntary buyouts as part of a plan to close persistent structural deficits and consolidate academic units. President Joel Towers warned additional cuts remain likely, and the institution is evaluating real‑estate holdings to stabilize its balance sheet. S&P downgraded the university’s bond rating amid the restructuring. In a separate liquidity move, Rider University sold part of its campus in a $10 million deal. Together these actions underscore how private and tuition‑dependent institutions are using staffing reductions and real‑estate transactions to buy time while rethinking operating models amid declining enrollments and persistent budget gaps.