Following its announced closure, Hampshire College in Amherst will sell its 800-acre campus to pay off its debt, President Jennifer Chrisler wrote in a Wednesday letter to the community.
“The Hampshire campus, as we know it, will not endure in its current form. It will need to become something different for the College to meet its obligations,” Chrisler said.
The college has around $25 million in debt, between loans and a private partner. It was primarily taken in 2010 and 2016, Chrisler said. While the college attempted to increase enrollment, refinance existing debt and sell land, the college’s financial stability wasn’t viable given its current enrollment. As such, it announced on April 14 it would be closing.
