Financial strain is forcing small institutions to consider deep retrenchment. The University of Providence disclosed a program review and possible staffing cuts after its health system partner said it will end an $8 million annual subsidy in 2027, prompting the board to declare financial exigency and begin deliberations on program closures and strategic enrollment growth. In New York, The New School moved from voluntary buyouts to a plan to reduce headcount by roughly 15% as leaders described a structural deficit tied to enrollment declines. Both cases underscore a growing pattern: small and niche colleges are combining program pruning, staffing reductions and fundraising pushes to avoid insolvency, with tenure protections and transition plans now central to campus negotiations.