Philanthropy and Americans' grudging tolerance for high tuition fueled investments in everything from gyms, dorms and labs to faculty and expanded financial aid.

But the financial meltdown is forcing institutions to tear up budget plans and prepare for a simultaneous hit to their three major revenue sources -- government funding, donations and tuition.

At the same time, they're having to find more money for financial aid or risk seeing students drop out.

Jerry Cebrzynski is the financial aid director at Lake Forest College near Chicago. He says students are already asking for more help, and he expects it will get worse.

Lake Forest College has cut several class offerings and froze last year's operating budget in part to make more aid available.