Do Not Attend Earlham College

Gardenstegal in all due respect show me how the numbers can work? The unrestricted portion of an endowment is intended to offer benefits from interest to perpetuity, the school is drawing on principal it to support ongoing operations. They have already cut costs but been outpaced by 3x declining tuition.

I would love to see them find a way but please enlighten me as to the path you see from a finance point of view.