Closures & Mergers
Anna Maria bankruptcy sale of property faces objection from neighbor
A Massachusetts family has objected to the bankruptcy property sale of Anna Maria College, claiming the college had promised to gift them a 2.4-acre parcel of land. The college closed earlier this year and is currently selling its properties to repay debts.
Bankrupt Anna Maria College to sell nursing program for $1.1M
Anna Maria College, a Massachusetts institution that closed after the spring term due to financial duress, has filed court documents seeking approval to sell its nursing program assets to nearby Assumption University for $1.1 million. The private sale, requested for Sept. 30, aims to transfer 45 nursing seats so students can continue this fall. The college also plans to sell real estate to cover $17.7 million in secured debt.
Westcliff University acquires Pacific College to expand nursing programs
Westcliff University, a California for-profit institution, has acquired Pacific College, a nursing-focused college, to enhance its healthcare education offerings. The acquisition, announced on Aug. 14, aligns with state projections of a nursing shortage exceeding 61,000 registered nurses by 2033. Pacific will retain its name, faculty, and staff, as per a May letter from its president. Westcliff, which has seen enrollment nearly triple since 2019, aims to leverage Pacific's strengths while integrating it into its broader academic community.
Culture eats strategy for breakfast — but not always for college mergers
Higher education expert Ricardo Azziz, drawing on his own experience leading university mergers, explores the true role of culture in institutional mergers, noting that while culture is important, it does not always override strategy.
University of Valley Forge in Pennsylvania to shutter
The board of trustees of University of Valley Forge in Pennsylvania announced on Wednesday that the university will close indefinitely after the summer semester ends in August this year, citing leadership's belief that it "cannot responsibly continue academic operations." Previously, its accrediting agency had required the university to submit proof of financial resources, indicating financial distress. The university listed three potential "teach-out" partner institutions, all Christian universities. The university enrolled 589 students in fall 2024, with enrollment largely stable in recent years but down about one-third from a decade ago.
Another round of Education Department regulations is coming, official says
U.S. Deputy Secretary of Education Nicholas Kent said Tuesday that the department is considering policy and regulatory reforms to streamline the process of college mergers, acquisitions, and even closures. This move comes on the eve of a new batch of higher education regulations taking effect, including new loan limits and income-based testing requirements for academic programs.
Northpoint Bible College ends degree programs after losing accreditation
Northpoint Bible College, having lost accreditation earlier this year, decided to transition into Northpoint Bible School starting in September, offering a three-year non-degree ministry training program. President Tiff Shattlesworth stated that students can seamlessly transfer to multiple accredited religious colleges. The college faces financial difficulties, with tuition set to drop from approximately $28,000 to $7,700.
Hampshire College secures loan agreement to hold final fall semester
Hampshire College President Jennifer Chrisler said Monday that the college has secured a loan agreement, providing the financially troubled institution with the necessary resources to hold its final fall semester as scheduled. The college has reached an agreement in principle on a loan with a philanthropic partner, with final documentation expected to be completed in July.
Hampshire College may close earlier than planned
Hampshire College, already slated to close after the fall semester, may shut down earlier if it cannot raise sufficient funds. President Jennifer Chrisler cited a funding gap and vendor demands for upfront payment. The college is exploring options, while external efforts to save it continue.