So many Christian colleges started out as church-denomination schools. Being supported by churches in the denomination meant costs were kept low. And they enjoyed an endless supply of students as many families automatically sent their kids. One side of my family is a good example of this as 15 of my cousins all went to the same college.
Fast forward some 30+ years and things have changed dramatically. Denominations have in many ways gone by the wayside in favor of nondemonational churches. Colleges are no longer supported financially the way they were in the past. Costs have skyrocketed while schools and programs remain small. Loyalty to these colleges is gone as parents aren’t denominationally committed and even if they are costs are a big consideration. Students also aren’t keen on attending a small school in a rural area with limited programs when they can go to a popular state with more amenities.
I do think some Christian colleges even in popular areas are going to suffer. Biola (because of its reliance on international students plus its cost) was listed in the “perish” category of that recent “college risk” study. Tuition is an undeniable force in all of this. There is a school near me where 25% of the graduation class is going to Grand Canyon University because their partnership program makes total cost end up being about $15k a year for many students. This is cheaper than their local state school. If Christian colleges cannot find ways to lower tuition they simply cannot compete.