![A growing number of small universities are closing due to financial difficulties A growing number of small universities are closing due to financial difficulties](https://i2.wp.com/assets3.cbsnewsstatic.com/hub/i/r/2024/06/04/7adbec95-ce2a-459a-b854-14dcd3ee7fb0/thumbnail/1200x630/177840690969c7a283ee10f1c3e7d798/cbsn-fusion-growing-number-of-small-colleges-close-amid-financial-woes-thumbnail.jpg?v=6d480a252670b63de1e37fef02c977a5&w=1200&resize=1200,630&ssl=1)
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Last week, the University of the Arts in Philadelphia announced it would close permanently on Friday. This is the latest closure of small arts and liberal arts schools. CBS News reporter Zak Hudak examines the reasons for these closures.
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