WISCONSIN — Nearly 24 hours after Cardinal Stritch University confirmed it's set to shut down for good in a matter of weeks, the president of the Wisconsin Association of Independent Colleges and Universities said other small schools are currently facing similar hardships when it comes to finances and enrollment.

"The landscape of higher education is challenging," said Eric Fulcomer. "We're living in a time when the population of high school graduates is declining [and] we're living in a time when some people question the value of higher education."

Now, with Cardinal Stritch set to "suspend and cancel all educational services, activities and programs" on May 22 after just marking its 85th anniversary last summer, hundreds of students are scrambling to figure out where to continue their studies this fall.

"When [this] happens, other institutions of higher education come together and provide support for those students," Fulcomer said. "There will be a number of schools, including many of our members, who will come forward and make a pathway to those students available to them."

Watch the full interview above.