Wells College's board of trustees has announced the school's closure at the end of this semester following its 156th commencement ceremony.
In a post on the school's website, President Jonathan Gibralter and Board Chair Marie Chapman Carroll said the school "does not have adequate financial resources to continue," having already faced challenges from COVID-19, fewer college students nationwide and other factors.
"Members of the board, many of whom are Wells graduates, have spent years trying to find creative solutions to raise revenues in hopes of avoiding closure, including most recently having conversations with other academic partners," the post read in part. "... But revenues, unfortunately, are not projected to be sufficient for Wells' long-term financial stability."
Wells officials say they have reached "teach-out" agreements with a number of other schools:
- Manhattanville University
- Excelsior University
- Hobart and William Smith Colleges
- Keuka College
- Le Moyne College
- Mercy University
- SUNY Brockport
Manhattanville is listed as Wells' preferred teach-out partner, and Wells officials say the school is developing housing for current Wells students.
This will be the eighth closing, or announced closing, in New York in the last 12 months, which includes the colleges of Cazenovia and St. Rose.
As for the students, we had the chance to catch up with the Bangel brothers earlier today, two twins on the school’s basketball team.
The twins grew up playing basketball together, and came to Wells to continue that dream.
"I was crying a little bit. You know, I picked Wells because it's my dream school. I had everything I wanted and throughout the year about a ton of amazing people. And I was just sad and disappointed, but, on the other side, I was like, 'I got to just start looking forward and seeing what was next,'" said John Bangel, Wells College student.
“We became very close, very fast, and though not be able to see these guys, in school next year, just that over the summer because a lot of them are from afar. It's disappointing, but I know we'll be fine and I know they will be fine as well," said Joe Bangel, Wells College student.
These two students hope to continue both their academic and playing careers at other colleges throughout the state.