There is a demographic element to this. Right about now we are at peak enrollment/competitiveness for colleges based on the number of total students in the country. That number will steadily decline from here, which will combined with the declining sentiment of students and the job market will likely result in some major shakeups (colleges failing) over the next decade or so.

Everyone wants to look at sentiment and enrollment numbers alone, but the demographic outlook is a huge factor in all of this.