 trying to figure out a path in life, which no college sophomore should ever need to worry about. Thanks for that message. Since the onset of the pandemic, colleges have been shutting down rapidly, now at a rate of one every week. That's according to the State Higher Education Executive Officers Association. And many more colleges are struggling financially. Among them was Wells College in Aurora, New York. The 156-year-old liberal arts college shuttered its doors for good last month.