Colleges are remarkably resilient institutions. Princeton University's Nassau Hall still bears the cannonball marks from the Revolutionary War battle that raged near campus. Dickinson and Bowdoin colleges saw their first buildings burn down, as did the University of Vermont, which also survived its first president going insane.
Still, every year, a handful of institutions go under. And while a wave of college closings is unlikely, the current economic turmoil could accelerate the pace.
In addition to Cascade, another Christian institution, Taylor University, announced last month it would close the undergraduate program at a branch campus in Fort Wayne, Ind., while Pillsbury Baptist Bible College in Owatonna, Minn. announced plans to close....