HIGHER EDUCATION BUBBLE UPDATE: Now VSU Is in Trouble. “Enrollment at Virginia State University in Petersburg is down by 550 students this year, and the historically black university is facing a $5.3 million shortfall, including a $2.4 million reduction in state support. . . . Norfolk State University, Virginia’s other public, historically black university , is facing difficulties as well, while St. Paul’s College, a private college, closed last year.” The HBCUs, founded when most schools didn’t admit blacks, have been in trouble for a couple of decades. Now, however, they’re also facing a secular decline in higher education as a whole on top of that.