Hampshire College Seeks Partner, Vows Not to Close
While noting that the college’s current budget is balanced and its $52-million endowment has been strong, the harsh financial realities of small universities in the United States could not be ignored.
AMHERST, MA—In another sign of the continuing struggles of small colleges nationwide, Hampshire College here announced it is seeking a long-term partner and while vowing not to close, is considering whether it will enroll an incoming freshman class this fall.
Hampshire College, which will be celebrating its 50th anniversary in June 2020, currently enrolls approximately 1,400 students and employs 114 full-time faculty, according to its website. The non-profit independent college is located at 893 West St. on a 800-acre site in Amherst.
Hampshire College president Miriam E. Nelson in an e-mail posted on the liberal arts college’s website on Tuesday announced the college’s intent to find a long-term partner “that can help us achieve a thriving and sustainable future for Hampshire. With the guidance and passion of Hampshire’s trustees we’ve begun a process to seek a strategic partnership to address the challenges we’ve faced as an under-endowed institution, really from our very first days. As we approach our 50th anniversary, and as Hampshire continues to have an impact on students and society, the trustees and I are absolutely determined to find the best way forward.”
She stated that the college hopes to secure the long-term partner by the end of the current semester. In terms of its reasons behind the decision on whether to enroll a freshman class this fall, the college stated, “As we look out to the years ahead, we can’t be certain that we could guarantee an incoming class the same educational experience we offer today through all four years. We’ll make a final decision by the February 1 admissions notification date. This decision has significant ethical implications, and must take into account the welfare of our prospective students and community as a whole.”
While noting that the college’s current budget is balanced and its $52-million endowment has been strong, the harsh financial realities of small universities in the United States could not be ignored.
“We’re convinced that seeking a strategic partnership is the right and responsible thing to do. And now is the time to do it.,” Nelson said. “We have great resources in our people, in our pedagogy that has had outsize influence on higher education, and in our reputation for imaginative and forward thinking. By moving ahead so forthrightly now, we also have perhaps the most important resource of all—time. We have the time to undertake the awesome, exhilarating responsibility of evolving education at Hampshire.”
The college stressed that it does not intend to close, but did clearly point to the financial struggles small educational institutions are facing at the moment.
“Small colleges face stiff headwinds today, and the pressures on campuses with limited endowments are enormous, the college stated on its website in explaining the move to find a long-term strategic partner. “There is intense competition from peers around financial aid awards, as well as demographic trends showing steep declines in the college-age population. We must be proactive and deliberate about securing Hampshire’s future.”