Cheit states that universities and colleges in the United States are facing a financial crisis. He notes that tuition is not rising fast enough to compensate for rising costs, including inflation, faculty salaries, student aid, campus disturbances, theft, and vandalism. In addition, he warns that applications for college are declining rapidly-- up to 15 to 20 percent at some institutions. He states that almost three-fourths of schools are in financial difficulty or headed for it.