Newbury College in Brookline, Massachusetts, announced Friday that it will close its doors at the end of the academic year due to financial concerns.
"It is no secret that weighty financial challenges are pressing on liberal arts colleges throughout the country,” said Joseph Chillo, Newbury College president. “We are no exception. This decision to close wasn’t arrived at lightly and it comes after a tremendous effort to remain open.”
The college said changing demographics and severe financial constraints have made it difficult in recent years for the college to remain viable.
Founded in 1962, Newbury College has about 625 students and more than 14,000 alumni.
“We decided to let our community know as soon as possible because it is the right thing to do,” Chillo said. “Our people, the dignity of our mission, and the legacy of the institution are our most important concerns of today.”
The school said no specific closing date has been set, but the plan is to cease operations after the spring 2019 semester.
School officials said they are in the process of formalizing agreements with area colleges and universities so that current students can continue their studies elsewhere.
The move comes after other small Massachusetts schools have closed amid financial pressure, including Mount Ida College and Marian Court College.