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for millions of students Labor Day weekend marks the end of summer vacation and the start of another school year but for the first time in a hundred and eighty five years there will be no fall semester at Green Mountain College in western Vermont's the school fell victim to trends in higher education that could soon impact hundreds of other schools brook silva-braga was there as the College packed up for good when Robert Allen became president of Green Mountain College in 2016 he admired the picturesque campus marveled at their carbon neutral footprint and then gawked at their balance sheet how soon did you realize there might be a problem very quickly I mean within the first couple of months some mathematician by training a financial person or realized that we were going to come up short the main problem was shrinking enrollment by last year just 427 students remained on campus broke and unable to find a school to merge with in January Allen announced that the school's 184th graduation would be its last I've had a long professional career not all of it in education it was the hardest thing I've ever had to do as you can imagine many parents were really angry kind of disappointed a lot of people came here they like to build relationships and like keep them going not just to come here for a year to pretty much intact what's left of Green Mountain has a ghostly feel empty classrooms empty dorms not even the pool was filled and it speaks to how these closures affect not just the school and the students with whole communities this is the only swimming pool in town it wasn't really effectively a public swimming pool the costs to run a college keep going up new buildings higher administrative costs but sluggish middle class wages mean fewer Americans can afford to pay I think this is something people have trouble understanding tuition is so high right shouldn't it be easy to keep a college in good financial health it would be that if anybody really paid tuition so at Green Mountain College this past year we didn't have one full pay students really not wine so in other words are published to ition was roughly thirty six thousand five hundred dollars and the Everage student played just a little over $12,000 we left Green Mountain and headed towards Boston finding other shuttered schools was as easy as pulling to the side of the road southern Vermont College in Bennington Vermont also closed after the spring semester this past spring also marked the last classes for the college of st. Joseph in Rutland just across the border in Massachusetts Atlantic Union College closed the year before and last spring Newbury College here in Brookline mass graduated its last class to in Boston at Harvard we met Michael horn who's been studying education and has a grim prediction you think more of these closures are coming absolutely I think 25% of schools will fail in the next two decades a quarter a quarter act absolutely they're gonna close they're gonna merge some of them will declare some form of bankruptcy to reinvent themselves it's going to be brutal across American higher education and Horne says the problems colleges already face finding enough paying customers will only get worse we know that families had fewer children after the recession in 2008 which means that in just a few years there's just going to be fewer high school graduates and not as many students going into college fundamentally these schools business models are just breaking at the seams small schools in the Midwest in Northeast are especially vulnerable and Horne says new forms of education will bring even more pressure I think we're gonna see basically faster and cheaper programs emerge I also think we're gonna see a lot of mobile learning programs come up where you can literally just pop on your phone learn a few things and so I think we're gonna see a lot more of these sort of flexible affordable convenient programs performance but what these College alternatives would mean for students and the families helping pay their way that's less clear I have a one-year-old at home yeah is he young enough that society will have moved off this idea of the degree in time that I don't have to come up with 500 grand in 17 years this is the big question in my household - I've got five year old twins but I don't know I mean because there's huge parts of the society that have to shift with that it's not just expectations it's how employers hire it and huge reason people are going to school is for social reasons you're trying to sell e so what becomes of the classic college campus no the asking price is twenty three million dollars president Allen says he's received interest from international high schools and a group hoping to educate veterans another college here seems unlikely this problem is not going away the demographics are not going to change and the fact that college is unaffordable for a lot of folks is not going to change in the near term for CBS this morning saturday brook silva-braga Poultney vermont stark contrast to the college we did a story on earlier this year called Berea College which offers scholarships to all of its students it has a 1.1 billion dollar endowment be interesting to see maybe they could teach a few lesson they all handle scholarships in a different way because they're in particular your tuition is so much how are you going broke not one student paid full tuition last year they were all on scholarship yeah and making money it's sad because for some students that smaller college is so important it's what they need to get that education it's interesting to see if some of these ways can keep changing online learning I know for me it was some of that social aspect of college and learning how to be with others it's important yeah College is important