Don’t have time to do the research, but here is what chatgpt says
1. Declining Enrollment Numbers
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Enrollment Trends: According to the National Center for Education Statistics (NCES), enrollment at liberal arts colleges has been slowly declining over the past two decades, while enrollments in larger, more vocationally oriented institutions (such as public universities) have been rising. For example, many liberal arts colleges have seen a drop in the number of incoming students, as more high school graduates opt for colleges offering specialized and technical programs that promise clearer career paths.
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Enrollment at Smaller Colleges: The American Council of Education has reported that small liberal arts colleges in particular have faced declines in enrollment.