Why Colleges Fail?

Interesting study looking at what happened to all 824 private colleges that existed in 1975. 11% failed in the last 34 years. Why did some survive and others fail?

1) Endowment per student was more important to survival than net tuition per student.

2) Larger and more selective colleges had higher survival rates, but running G&PS programs (i.e. diversification?) mattered less.

3) Religious schools had higher survival rates.

Of course, this study looked only at survival and not at other questions like which schools entered the market in the last 34 years and which schools became more viable over that time period.

http://www.insidehighered.com/news/2009/04/17/closing