Albany, NY - After more than a century of operation, the College of Saint Rose, a private independent college in Albany, New York, has announced its decision to halt academic instruction following the conclusion of the 2023-2024 academic year. The Board of Trustees, facing financial challenges stemming from declining enrollment and the impact of the COVID-19 pandemic, made the difficult choice to close the institution.

Board Chair Jeffrey D. Stone expressed the Board's heavy-heartedness in deciding to close the college. Stone cited the dwindling pool of high school graduates and the ongoing effects of the pandemic as significant factors contributing to the college's struggle to manage operating expenses.

Stone acknowledged the disappointment at being unable to avoid closure, stating, "Our goal now is to ease the transition for our students, faculty, and staff." The college will extend assistance to students, helping them either graduate in May or continue their studies elsewhere. A formal institutional teach-out plan will guide the closure process, minimizing the impact on students and the college community, in accordance with requirements set by the Middle States Commission on Higher Education and the New York State Education Department.

The closure decision followed numerous efforts by the board, as highlighted by College President Marcia White. These efforts included the elimination of high-cost academic programs, staff layoffs, reduced pension contributions, salary cuts for administrators, debt refinancing, requesting donors to unrestrict endowed funds, selling non-essential buildings, implementing recruitment initiatives, and exploring potential partnerships with other institutions. However, these measures were unable to offset the projected operating cash deficit of $11.3 million for the current year.

President White emphasized Saint Rose's commitment to students and the impact the college has had over its long history. One-third of Saint Rose's undergraduates are first-generation students, while nearly 40% come from low-income, Pell-eligible households. The college, with its substantial in-state enrollment, has played a crucial role in fostering education and contributing to local communities.

The closure, however, does not diminish the accomplishments of the college's 50,000 alumni. White highlighted the alumni's ongoing contributions in various fields, such as education, healthcare, law, social work, and public service, as well as their entrepreneurial endeavors.

The Sisters of Saint Joseph of Carondelet, the founders of the College of Saint Rose, expressed their gratitude to the college's leadership, faculty, staff, and supporters. Sister Joan Mary Hartigan stated, "Though we are saddened by this news, we recognize that the needs of society change and that human institutions must adapt." She expressed pride in the impact the college's graduates have made and their role in shaping future leaders.

As the 103-year-old institution prepares to bring an end to its academic chapter, the College of Saint Rose will strive to support its students, faculty, and staff during the transition. The college community, both past and present, remains committed to upholding its mission and legacy in the years to come.

The College of Saint Rose, with nearly 2,600 undergraduate and graduate students enrolled in various programs, will conclude its journey with its 101st and final commencement ceremony in May 2024, joining the ranks of its nearly 50,000 alumni across the nation.