Facing steep enrollment declines, rising costs and tighter federal oversight, colleges and university systems are increasingly considering mergers, acquisitions and strategic partnerships. Institutional leaders and trustees are reframing consolidation as a survival and reinvention strategy rather than an admission of failure. Practical playbooks now emphasize regional collaboration, program rationalization and shared services. State systems and independent colleges are piloting joint degree programs, shared administrative platforms and coordinated marketing to stabilize enrollments and reduce duplication—moves that will raise regulatory, accreditation and labor‑relations issues as they scale.