Unless they're laying off professors, resident hall workers, etc to offset the reduced number of kids enrolling, I'm not sure how many costs are offset by the reduced number. I mean, they might do it. They might have done it. But under no circumstances can I see a scenario where it's even remotely close to the amount of tuition they lose. And I'm 99% certain whoever said that freshmen classes are the largest was right. People flunk out and never come back.