Hampshire College in Amherst to close, and another Mass. school is put on warning by the state

Hampshire College, an unconventional liberal arts college in Amherst, announced Tuesday that it will transition to close after years of financial troubles and declining enrollment. 

“Despite this herculean effort, the financial pressures on the College’s operations have become increasingly complex, compounded by shifting external factors,” college president Jennifer Chrisler wrote in an email to the Hampshire community, which The Boston Globe obtained. 

She continued, “We are faced with the clear, heartbreaking reality that progress on each of these three key factors has fallen far short of what we had hoped.”

The move follows years of financial strain at Hampshire College, which nearly closed in 2019.

According to the college’s financial statements for the year ended June 30, 2025, net revenue was $36.4 million, while total expenses were $40.39 million. 

On March 24, the New England Commission of Higher Education ordered the school to “show cause” at its June 2026 meeting as to why the commission should not place it on probation or revoke its accreditation, citing concerns about its financial stability.

The commission pointed to declining enrollment, from 842 students in fall 2024 to 747 the following year, as well as the college’s failure to sell land near Atkins Corner, the inability to refinance $21 million in bond debt and maintain its unrestricted endowment, and its falling endowment, which supports day-to-day operations.

Those challenges come despite a five-year financial plan launched in 2019 aimed at boosting enrollment, raising $90 million to $100 million, and leveraging the college’s land and assets. 

In its most recent financial report, creditors also raised “substantial doubt” about the school’s ability to continue operating.

Hampshire College is a member of the Five College Consortium alongside UMass Amherst, Mount Holyoke College, Smith College, and Amherst College. 

Hampshire College enrolls roughly 700 to 800 students. It brought in about 150 new students for 2025, roughly half its target, according to MassLive.

College officials did not immediately respond to a request for comment on Tuesday.

Anna Maria College warned by state

Meanwhile, the Massachusetts Department of Higher Education warned Friday that Anna Maria College in Paxton, just west of Worcester, may not have the resources to keep operating at its current level, raising new concerns about the small Catholic school’s future. 

According to the Anna Maria College 2025 Financial Statements, the net operating revenue for the year ended June 30, 2025, was approximately $25.34 million, with expenses totaling $32.74 million. 

The department said in a notification that it is working with the institution to explore “all reasonable options” to “support a long-term plan that prioritizes the best interests of students, faculty, and staff.”

The planning process includes creating a contingency plan to establish a process in case the institution decides it cannot sustain operations at or near current levels over the next 18 months. 

In response, Anna Maria “affirms its commitment to operating in full compliance” with the department’s standards. 

The New England Commission of Higher Education first issued a notation to the school on March 6, saying it will monitor the institution’s progress through a spring 2026 annual report on finance and enrollment. 

The college states that it has reduced staffing and operating costs but recognizes that additional measures will be required, and anticipates further cost reductions in the next fiscal year. 

Early enrollment indicators show some positive movement. The college said that as of March 31, the fall 2026 deposits are trending ahead of the same period in prior years. 

“The Board continues to evaluate all options available to the institution with the best interests of students as its primary consideration,” the college said in a statement. 

Anna Maria College began in 1946 as an all-girls liberal arts school and expanded to coeducational enrollment in 1973. The private college now occupies a 190-acre campus in Paxton, enrolling about 1,500 students and offering both undergraduate and graduate degrees. 

Over two dozen colleges and universities in the state have closed or merged with other higher education institutions since 2014. 

Most recently, Bay State College closed in 2023 due to financial instability. In 2021, Becker College closed following pandemic-related declines, and in 2018, Mount Ida College merged with UMass. 

Beth Treffeisen is a general assignment reporter for Boston.com, focusing on local news, crime, and business in the New England region.