What are current economic landscapes that impact higher education and how does those challenges impact the small college given in the case study?

I’m trying to study for my Academic course and I need some help to understand this question.

Prompt: Submit a four- to six-page document that analyzes the current economic landscape that impacts higher education and how the challenges of the landscape relate to the scenario provided in the Final Project Guidelines and Rubric.

  1. Describe current economic challenges that impact higher education. What are the financial pressures on institutions of higher education from areas such as changes in demographics, politics, and other external socioeconomic factors? What financial trends or patterns have an influence? Have different types of higher educational institutions been impacted differently? What other relevant details will give a full picture of the economic challenges?
  2. Describe how these challenges relate to the institution, using the data from the assumptive facts. See the appropriate facts and figures below for the scenario institution.
    • How might the factors that you described previously have influenced your functional area’s operating budget?
    • How are current enrollment and projected enrollment crucial factors in your budget, and what influence(s) does enrollment have on your functional area’s operating budget?
    • Given the current economic challenges, what changes in revenue stream are likely for the institution?
    • What other relevant details about the institution’s financial landscape will help give a full picture of the institution’s budget challenges?

    Rubric is attached.