The average cost of one year of college in the US is now more than $20,000 a year for public schools and about $50,000 dollars a year for private school. Many run close to $80,000 a year. In spite of that, schools across the country have had trouble balancing the books. And the COVID crisis has pushed many colleges over the edge.
Some are dropping out, and closing their doors for good. Faced with that prospect, others have decided to make the best of a bad hand, and gussie themselves up for a merger. The sector has seen a rash of acquisitions recently, and while that may be good for the institutions concerned, it's often bad news for students.
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