According to the most recent college rankings in US News & World Report, The College of New Jersey was ranked #3 among regional universities in the North. The average 2016/2017 cost for tuition, fees, and room and board were $28,675 for in-state and $39,852 for out-of state students. Total enrollment is about 7,400. Villanova University, a private university, is ranked #50 among all national research universities in US News & World Report. The average 2016/2017 cost for tuition, fees, and room and board were $62,346. Total enrollment is about 11,000. Both institutions are being pinched by the current state of the economy, with budget cuts and hiring freezes. The overriding goal of both schools is to maintain a high quality of student life in terms of academics, class sizes, facilities, and services.
Describe how cost and demand dynamics might impact these two schools in the future and steps they can take to achieve their goal.