Sterling College in Vermont announced it will close at the end of the spring semester, citing persistent financial and enrollment challenges; the small work-college had only 78 students in fall 2023 and an endowment of roughly $1.1 million. At the same time, the University of Nebraska–Lincoln’s chancellor proposed cutting four academic programs and merging departments to close a structural deficit, generating faculty opposition over process and evaluation metrics. Together, the stories underscore the sector’s fiscal pressure on small residential colleges and large public campuses alike and highlight difficult trade-offs college leaders are making to preserve operations.