That is true. However, people are constantly ignoring the fact that there are over 2,000 non-profit 4-year colleges. The ones that are most likely to shut down are the ones who did not make it to Galloway’s list. Perhaps 5 colleges on his list will have to shut down. However, perhaps 200 will close, but those are colleges which he, and all the other researchers at “elite” colleges ignore.
He knows that hundreds of colleges could close, but, again, his bubble precludes him from actually considering any colleges which are not ranked by USNews or by Forbes. Colleges which are not mentioned in Princeton Review. Since he only looks at colleges like the 400 or so he lists, perhaps he feels the need to show why 100 of these colleges will close.
The colleges that close are small colleges, often religious colleges, in rural areas which have lost the pool from which they drew students. The students have either left with their families, or are no longer able to afford a private college, even a relatively cheap one. Small public directional colleges will also close, for the same reason. Some are small colleges in urban areas which are losing out to larger colleges which can provide better job prospects. Some of the smaller directional colleges may also close for the same reasons. The former reason is why Western Illinois University may close, and the latter reason is why Northeastern Illinois University may also close.
People who have been following the closing of colleges have a pretty good idea as to what the risk factors are for a college. Galloway waltzes in, decides that he can reinvent the wheel, produces a square, and calls it a wheel.
If I didn’t know better, I would have thought that he was a physicist.