Rest in Peace: College Closings

From the FAQ:

https://www.hampshire.edu/sites/default/files/Hampshire_College_FAQ_01-15-19.pdf

Also:

I read that as, if they find a partner things might so substantially change that students who chose Hampshire for what it currently offers might find themselves getting something very different.

But losing that tuition income would be tough, I’d think.

Also just read this about Hampshire!!! Hope it survives!!!

More about Hampshire: https://www.bostonglobe.com/metro/2019/01/15/hampshire-college-facing-financial-pressure-considers-merger/hKHgkWoZ1Ca5bs952kknCL/story.html?camp=breakingnews:newsletter

Here’s the link to today’s (1-16-19) Inside Higher Ed article:

https://www.insidehighered.com/news/2019/01/16/hampshire-college-looks-partner-may-not-enroll-freshmen-fall

Last I saw, Moody’s rated Hampshire’s bonds at Baa2 and a stable outlook, placing its credit-worthiness in the 9th rung of a 21-rung rating system, having “moderate risk” and two steps above “junk” status.

It’s going to be a tough “yield” year for Hampshire even if it does enroll a freshman class for fall 2019. This could seal its fate.

Heartbroken, and crushingly disappointed for my kid

Green Mountain College in Vermont RIP

https://www.bostonglobe.com/metro/2019/01/23/green-mountain-college-shut-down/fQAvfpl2dgC8kOmlrHsHoN/story.html

^ Another article on it https://www.rutlandherald.com/news/local/green-mountain-college-to-close-at-end-of-semester/article_fa2e0e3c-e7c7-5edf-9f34-0f0b233bbc90.html

And here’s the link to today’s parallel article from Inside Higher Ed – my old standby – about the closing of Green Mountain College:

https://www.insidehighered.com/news/2019/01/24/green-mountain-latest-small-college-close

Change is hard, but “creative destruction” is definitely needed in American higher education.

I don’t care how venerable and even historically important a college is, if your kid is looking at a private college with an endowment that low ($2.9M—not twenty-nine, two-point-nine!), encourage them to walk away. If they don’t, pick them up and carry them away.

Here’s the link to a morning-after “why” analysis of the upcoming closing of Green Mountain College, as published in the 1-25-19 issue of Inside Higher Ed:

https://www.insidehighered.com/news/2019/01/25/green-mountain-college-tried-numerous-strategies-still-closing

Yep. Read that this morning too. So sad to see these schools not survive.

This was posted in one of the CC “parents of the class of” threads, and I think provides some useful context for the ongoing discussion over here: [The Hechinger Report, on increasing levels of borrowing by colleges](Like their students, colleges are vastly increasing the amount they borrow - The Hechinger Report)

A Boston Globe article about the problems facing many colleges in Vermont:
https://www.bostonglobe.com/metro/2019/01/30/higher-education-struggles-hit-vermont-hard/hiN0TRBKM147Qbdrvx4QHJ/story.html

Interesting comments.

https://www.chronicle.com/article/Online-the-U-of-Farmington/245585

U of Farmington’s short, glorious existence :smiley:

Not a college closing, but a shrinking and restructuring: In response to budget shortfalls caused by enrollment declines, [Robert Morris University is closing one of its five schools, laying off staff, and offering buyouts to some administrators](Robert Morris planning to close one school, offer buyouts to administrators | Pittsburgh Post-Gazette).

Intriguingly, the (few) details were confirmed in a response to a Pittsburgh Post-Gazette inquiry, and I’ve been able to find no mention of it on the RMU website.

@moooop I’m so grateful that it wasn’t U of Maine Farmington!! Whew!

@Dustyfeathers College names can be confusing. I learned yesterday that there is a University of Northwestern. It is in Minnesota. Their school color and website is the same purple as the Evanston school.

Even we Minnesotans are confused by it. :slight_smile:

One of my kids graduated from Northwestern & is now attending grad school in the south. Just about everybody assumes kiddo’s alma mater is Northwestern State University ( in Louisiana) whose colors are…purple & white. :((

Here in Mich. I continually hear ads for this school on the radio
https://northwesterntech.edu

A lot of kiddo’s high school.classmates assumed THIS was the destination:

https://en.m.wikipedia.org/wiki/Northwestern_Michigan_College