In 2023, higher education businesses are facing an unprecedented range of challenging issues that could have far-reaching impacts on the success of their organizations. These issues include a continued decline in enrollment, rising operational costs with gaps in revenue, increased student debt, and the prevalence of emerging alternatives to college. In this article, we will explore some of these issues and then discuss how finance leaders can use financial planning and analysis tools to help address and prevent them. By understanding the potential implications of different scenarios, institutions can make more informed decisions about their future operations.