The sector closed at least 15 college campuses in 2025 and recorded a wave of mergers and acquisitions as smaller, tuition‑dependent institutions struggled, according to a year‑end roundup. Public and private leaders pursued consolidations to shore up programs and align offerings with local workforce needs; examples include Augustana College's planned acquisition of Trinity College of Nursing and Health Sciences and a proposed Pacific University–Willamette University merger. At the same time, top colleges are accelerating career‑focused programming—co‑ops, internships and employer partnerships—to lift outcomes for graduates. Institutions such as Northeastern, Carnegie Mellon, Georgia Tech, Drexel and Babson are cited for embedding paid work experiences, improving hires within months of graduation and raising longer‑term earnings. Higher‑education leaders described the dual strategy as survival and market repositioning: mergers and acquisitions aim to stabilize operations while deeper employer engagement seeks to make degrees more directly career‑relevant. Clarification: 'Co‑op' refers to structured, credit‑bearing work placements that alternate with academic terms and are designed to integrate paid employment into degree programs.