Douglas Belkin:

Spring Hill College in Mobile, Ala., was founded in 1830. It has graduated governors and admirals. Martin Luther King Jr. praised it for its early efforts at integration in his “Letter from Birmingham Jail.”
None of that august history protected it from plummeting enrollment last year. So, to induce prospective students to consider its $170,000 sticker price for a four-year education, Spring Hill began offering $1,000 scholarships for taking a campus tour.
“We’re at a time when enrollment is the No. 1 driver,” said Bob Stewart, the school’s vice president for admissions and financial aid. “We needed to have some game changers to bring in new students.”
Spring Hill was caught in the same tailspin that many U.S. private colleges are facing as they endure plummeting enrollment among price-conscious students.