Two small-college developments this week highlighted acute fiscal pressure on tuition-dependent institutions. Wells College agreed to sell its Aurora campus to the Hiawatha Institute for Indigenous Knowledge; the board said the nonprofit intends to use the site for education pending due diligence and approvals, including from the New York attorney general. Separately, Martin University announced its closure and began selling assets, citing rising costs, enrollment declines, and debt; the school’s accreditor directed it to cease operations. Both moves reflect a broader wave of small-college consolidations, sales, and teach-outs as institutions face enrollment declines, funding changes, and reduced federal support.