Why Is Saint Rose Closing?

The esteemed College of Saint Rose in Albany, NY, has announced its imminent closure at the end of the 2023-2024 academic year, marking the end of a 103-year legacy in higher education. So, Why Is Saint Rose Closing?

A Difficult Decision by the Board of Trustees

The Board of Trustees, led by Chairman Jeffrey D. Stone, made the difficult decision to cease operations, citing financial insolvency as the primary reason. Stone expressed deep regret over the decision, acknowledging that the College lacks the financial resources to operate beyond the current academic year, making it impossible to continue as a standalone institution.

Challenges Faced by the College

The College, like many small, private higher-education institutions in the Northeast, has faced significant challenges. Declining enrollment, exacerbated by a shrinking pool of high school graduates and the prolonged negative impact of COVID-19, has strained the College's operating expenses. Despite concerted efforts, the College has been unable to reverse these trends.

Ensuring a Smooth Transition for the Community

In response to the closure, the College is focused on supporting its students, faculty, and staff through this transition. They aim to assist students in graduating or continuing their education elsewhere, guided by a formal institutional teach-out plan. This plan, required by the Middle States Commission on Higher Education and the New York State Education Department, aims to minimize the closure's impact on the College community.

The College's Human Resource department will also offer resources to aid faculty, administrators, and staff in their career transitions.

A Heartfelt Message from the College President

Marcia White, the College President, shared the news at an emotional community gathering. She highlighted the Board's efforts to sustain the institution, including cutting costs, laying off staff, reducing pension contributions, and exploring strategic partnerships. Despite these efforts, the College faces an operating cash deficit of $11.3 million for the year.

The Legacy and Impact of Saint Rose

The College's legacy is significant, with a focus on providing quality education and opportunities for success, particularly for first-generation students, low-income families, students of color, and women. Approximately 80% of the students are from New York State, contributing significantly to their communities post-graduation.

Sister Joan Mary Hartigan, representing the Sisters of Saint Joseph of Carondelet, the College's founding organization, reflected on the College's enduring legacy in the lives of its graduates, especially educators.

As the College prepares for its final commencement in May 2024, it leaves behind a legacy of nearly 50,000 alumni who have made impactful contributions in various fields. This closure, while marking the end of an era, does not diminish the indelible impact and legacy of the College of Saint Rose.