Small colleges on the brink of financial distress -- Historical influence on economic development of independent colleges -- Challenges facing small colleges -- Economics of small colleges -- Financial structure of small colleges -- Identifying financial distress in small colleges -- Why small colleges fail : four cautionary tales -- Financial state of small colleges -- Planning and leadership : tools for pulling back from the brink -- Financial and market diagnosis -- Financial strategy -- Small college turnarounds : how they did it -- What are the prospects for small colleges?