Newbury College
Asumag 8862 Newburycollege 0
Asumag 8862 Newburycollege 0
Asumag 8862 Newburycollege 0
Asumag 8862 Newburycollege 0
Asumag 8862 Newburycollege 0

Small college in Brookline, Mass., is shutting down

Dec. 14, 2018
Newbury College has been on probation with creditors because of financial difficulties.

Newbury College, a small liberal arts college in Brookline, Mass., will shut down at the end of the spring semester.

The Boston Globe reports that Newbury has been on probation with accreditors since the summer because of financial issues. The school has experienced declining enrollment for several years.

Joseph Chillo, Newbury’s president, says in a statement on the school website that the closure comes “with a heavy heart.”

“It is no secret that weighty financial challenges are pressing on liberal arts colleges throughout the country," Chillo wrote. "Newbury College is no exception. These financial challenges, the product of major changes in demographics and costs, are the driving factors behind our decision to close at the end of this academic year."

Newbury is the most recent of several colleges in the region to close. Across the nation, small private colleges have struggled to stay afloat amid declining enrollment and prohibitively expensive tuition.

On Thursday, the regional accrediting agency announced that it plans to withdraw accreditation from the College of St. Joseph, a small school in Vermont, also because of financial concerns.

Mount Ida College, a small school in Newton, Mass., shuttered in May.

Newbury College has been struggling financially for the past few years. In its annual financial statements, it forecast a $2.8 million cash flow deficit for the fiscal year ending in 2018.

The college was trying to solve its cash problems by marketing some of its real estate and trying to negotiate better terms with its lenders, according to its financial statements.

The state's Department of Higher Education says it will work with the school on the details of its closure plan. It is expected to announce in the coming weeks the places where students will be able to transfer and complete their degrees.

Sponsored Recommendations

How to design flexible learning spaces that teachers love and use

Unlock the potential of flexible learning spaces with expert guidance from school districts and educational furniture providers. Discover how to seamlessly integrate adaptive ...

Blurring the Lines in Education Design: K–12 to Higher Ed to Corporate America

Discover the seamless integration of educational and corporate design principles, shaping tomorrow's leaders from kindergarten to boardroom. Explore innovative classroom layouts...

Room to Learn: Furniture Solutions for Education

Preparing students for the future. Utilizing our experience in the education market, we offer a dynamic selection of products that pair technology with furniture to help stimulate...

Transforming Education: A Case Study in Progressive Classroom Design

Discover how Workspace Interiors and the Baldwin School District reshaped learning environments in Long Island, New York, creating pedagogically responsive spaces that foster ...