Higher education is entering a new era of mergers, acquisitions and strategic partnerships as institutions confront steep enrollment declines, rising operating costs, and heightened federal oversight. The sector shift frames mergers not as a last resort but as a strategic tool to preserve mission, scale programs, and shore up finances in regions hit hardest by demographic declines. Undergraduate enrollment has fallen roughly 15% over the past decade in the U.S., concentrated in the Northeast and Midwest; trustees and presidents increasingly view consolidation as a route to maintain program breadth and preserve Title IV eligibility. Examples include ongoing talks among private institutions and system-level realignments designed to reduce duplication. Boards, finance officers and accreditors will face a flurry of transactions requiring timely due diligence, regulatory approvals, and integration planning. Campus leaders should prepare governance playbooks, stakeholder communications, and academic-mapping strategies to navigate approvals and protect student pathways.