“ultimately determining that closure is the only responsible option”
We will see more of this, especially from small private colleges.
Inside Higher Ed reports:
A Small Art College Will Close
The Oregon College of Art and Craft announced late Thursday that it will cease all degree programs at the end of this academic term.
“While this was a difficult and painful decision, the board explored numerous options in hopes of continuing OCAC’s 112-year legacy, ultimately determining that closure is the only responsible option,” said a statement from the board. “The board made this decision now to prioritize the well-being of students, faculty and staff, and fulfill its fiduciary obligations to the institution. In the board’s best business judgment, a thoughtful and orderly closure process offers the best possible outcomes for all affected, and is therefore the right and only responsible thing to do.”
The statement added, “The path to closure was paved with years of restructuring, none of which could sufficiently eradicate the rising costs of running a private arts college in the 21st century. Since the most recent financial recession, it has been difficult to sustain our high level of academic programming in the arts and, unfortunately, we are not alone in this struggle.”
According to federal data, the college has 112 undergraduates.
Many free-standing art colleges, especially those with enrollments under 500, have struggled in recent years.
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