US Colleges are in a long wait and anxious if recent and on-going government shutdown will affect the federal student aids such a Pell Grant reimbursement. This is a real world example that shows how fragile the college operation is, especially to those colleges which are more dependent on the federal government. Perhaps, it is time to shift the strategies so that higher institutions are financially more independent. This is only can be done if colleges operate based on a balance budget policy. What is going to happen if this recent shutdown delays the government to channel the federal financial aids? Will there be college employees’ furlough as well at many US colleges?

Our research results show that more than 90 percent of them has higher operating cost than revenue generated from tuition.
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