In a decision that has left students, faculty, and staff heartbroken, the Board of Trustees of the College of Saint Rose has voted to cease academic instruction after the completion of the 2023-2024 academic year. The closure comes as a result of several overlapping factors that have plagued many small independent colleges in the Northeast region.

The Board's decision, announced during a Community Gathering, was driven by the institution's long-standing financial challenges. The College has faced a substantial decline in enrollment over the past decade, compounded further by the lingering impacts of the COVID-19 pandemic. These factors, along with others beyond their control, have made it increasingly difficult for the College to sustain its operations.

Efforts to address the ongoing deficit have been relentless. In recent years, the Board implemented various cost-cutting measures, including the elimination of high-cost academic programs, faculty and staff layoffs, reduced pension contributions, and salary reductions for administrators. Additionally, the College refinanced its debt, sold non-essential buildings, raised scholarship funds, and introduced new recruitment initiatives.

The Board diligently engaged national consultants in search of a potential higher education partner to strengthen the College's financial position and ensure the continuation of its educational mission. Furthermore, they pursued opportunities to secure significant philanthropic support and sought financial assistance from the state legislature and other elected officials in the Capital Region. Despite leaving no stone unturned, the Board was unable to ensure the College's long-term viability beyond the 2024-2025 academic year.

Recognizing that students, faculty, and staff would be most affected by the closure, the Board made the responsible decision to announce it in advance, allowing ample time for planning and decision-making. The College leadership team is preparing a teach-out plan, as required by regulators and accreditors, to facilitate a smooth transition for students to pursue degrees at other colleges and universities without interruption. Agreements with higher education institutions will be established, ensuring academic courses and degree programs are aligned with those currently offered at the College of Saint Rose.

The impact of this decision extends beyond the college community. The closure is a loss for the region and its higher education landscape. The College of Saint Rose has been a longstanding institution for 103 years, providing quality education and producing talented individuals who have made significant contributions to various fields.

As the academic year progresses, the College remains committed to supporting its students, faculty, staff, and administrators. A series of meetings will be held, providing detailed information and resources to aid individuals in making informed decisions about their educational journeys.

While the closure of the College of Saint Rose is undoubtedly a heartbreaking development, the Board's decision reflects their responsibility to act in the best interests of all stakeholders involved. The institution's obligations to regulators, accreditors, lenders, bondholders, and other academic and business partners played a significant role in shaping this outcome.

As the countdown to the College's closure begins, it is with heavy hearts that the Saint Rose community prepares to bid farewell to an institution that has played a crucial role in shaping the lives of countless individuals over the past century.