One of them even went under because of the downturn in the economy and others are on the brink:

One evangelical seminary fell victim to the American economy’s recession in 2008, while others teetered on the brink of collapse or faced serious cutbacks.
Salt Lake Theological Seminary, the only Christian graduate school of theology in Mormon territory, closed in late October after a benefactor reneged on a large donation and attempts to secure grants from charitable foundations failed. Faculty and staff agreed to work without pay through December so that the seminary’s 54 students could finish the semester.
The financial crisis may take down other seminaries in 2009 if the stock market does not rebound. The Association of Theological Schools (ATS) assessed the financial vitality of member schools in 2007 and discovered significant weaknesses.
[…]
Looking forward, Mohler’s greatest concern is inflation. The largest seminaries can make enough cuts to survive declining revenues, but a long-term trend of rising costs may take more seminaries the way of Salt Lake.

Given the proposed amount of spending by the federal government in the coming year, that’s a very real possibility.
(via Justin Taylor — read the comments for some more insight into the situation at the seminaries)