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Private liberal arts colleges are among the oldest of American institutions. Yet their history has been surrounded by concern about their ability to survive. Some see these small colleges as increasingly irrelevant in a world marked by growing demand for technical training. Others wonder how private colleges, many with few students and high tuitions, can compete successfully against heavily subsidized public colleges and universities. David Breneman, an economist and former college president, confronts the renewed concern about the future of liberal arts colleges. He explains that as higher...

This study contains a series of original essays by presidents, chancellors and other leaders in higher education. It identifies new strategies for the current resource-constrained environment that address the challenges of access, cost and effectiveness in providing higher education to an increasingly diverse population of students.