The College of Saint Rose, a 100-year-old Roman Catholic university in Albany, New York, will close in May 2024 after years of financial difficulties, university officials announced Friday.
Jeffrey D. Stone, chairman of the university’s Board of Trustees, which voted to close the school on Thursday, said in a statement: “It is with deep regret that the Board of Trustees has decided to close the university at the end of this academic year.” . “The Board has determined that the University does not have the financial resources to operate the entire 2024-2025 academic year and therefore cannot continue to be an independent educational institution.”
Professor Stone added: “We are shocked that despite all our efforts, we were unable to avoid closure. Our current goal is to ease the transition for our students, faculty and staff.”
University of Michigan closes, begins final graduating class
Officials said the university will help students graduate in May or continue their studies elsewhere, and the human resources department will help faculty, administrators and staff find jobs.
The College of St. Rose was founded as a women’s college in 1920 by the Sisters of St. Joseph of Carondelet. It became fully co-educational in 1969.
The school offers a variety of liberal arts programs, offering undergraduate and graduate degrees in areas such as early childhood education, educational leadership, and school psychology, and specializing in teacher training.
Notable alumni include “Tonight Show” host Jimmy Fallon, who also served as the 2009 commencement speaker.
The university’s closure announcement came on the same day the university’s women’s soccer team failed to advance to the NCAA Division II East Regional Finals in West Chester, Pennsylvania. The team drew 1-1 with Adelphi, but lost in the penalty shootout to decide which team would advance to the national quarterfinals.
Like many liberal arts colleges, the College of Saint Rose has struggled to maintain enrollment and balance the books in recent years, a struggle made worse by the coronavirus pandemic.
The university has about 2,600 students enrolled, down from 4,000 in 2019, the year before the pandemic began. Saint Rose eliminated more than a dozen academic programs in 2021 to cut costs, but was unable to achieve solvency.
In addition to cuts to academic programs, the university has laid off staff, reduced salaries and pension contributions, sold unnecessary buildings and refinanced debt, President Marcia White said.
West Virginia strips Alderson Broaddus of degree-granting rights for funding school hemorrhage
White told the campus community at Friday’s rally that these efforts have not been able to offset the ongoing budget deficit. He said the expected operating cash deficit this year is $11.3 million.
Albany Mayor Kathy Sheehan and Albany County Executive Daniel P. McCoy said, “We would like to express our sympathy and concern to the students, faculty, staff, and alumni of the College of Saint Rose. We all know that this day will never come. I was hoping.” In a statement after the decision to close schools was announced on Thursday,
Sheehan and McCoy said they would work with university officials, developers and government leaders to “reimagine” the university’s 46-acre campus in the Pine Hills neighborhood of Albany, New York’s capital.
CLICK HERE TO GET THE FOX NEWS APP
Javidan Rodríguez, president of the University at Albany, which is part of the public State University System of New York, said the news was “a difficult time for many institutions of higher education across the country in the wake of COVID-19 and the impact of COVID-19.” “It’s a reminder of the situation.” The demographic changes we are facing, especially in our region. ”