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This volume, part of the TIAA-CREF Institute Series on Higher Education, is based on a national conference, The New Balancing Act in the Business of Higher Education, which was convened by the TIAA-CREF Institute in November 2005. Managing institutions of higher education has always been a balancing act as campus leaders address business issues while staying true to their institutions' academic missions. What makes it increasingly challenging are emerging internal and external factors - including changes in federal and state funding levels, rapidly evolving demographics on campuses and in the workforce, and higher expectations and changing demands from a wide and diverse group of stakeholders. In this volume, higher education leaders explore the challenges facing colleges and universities operating in today's environment with constrained budgets and discuss a variety of strategies and solutions being employed to help ensure the ongoing vitality of America's colleges and universities.