After years of slow erosion of funding and enrollment, higher education in Wisconsin faces a flash flood. Financial challenges had been accumulating for the state's public colleges and universities, brought on by stagnant state funding, a tuition freeze, and declining enrollment. Now COVID-19 threatens to wash away key pieces of this system, raising the possibility of further faculty cuts, reduced programs, or additional debt. In light of these challenges -- and the tremendous stakes involved -- the Wisconsin Policy Forum has undertaken a comprehensive review of the state's public colleges and universities. From the University of Wisconsin-Madison to the former two-year UW Colleges, it was found that public higher education faces tougher financial and enrollment trends in Wisconsin than most other states and has a highly centralized governance and structure that may complicate the response to the pandemic. [For the full report, see ED612810.]