Hampshire College president says school will get a loan to operate for final fall semester

After announcing last week that Hampshire College did not have enough funds to stay open for a final semester, the school's president said Monday that a "philanthropic partner" stepped forward with a loan that would allow operations to continue through the end of 2026.

The college had decided in April that it would close because of financial difficulties, but originally planned on remaining open to students through the end of the fall semester.

Hampshire College President Jennifer Chrisler said in an email to the college community on Monday that the loan will allow for the summer and fall "teach-out" to continue as planned. A "teach out" involves contingency plans that provide current students the opportunity to complete their degrees or transfer when an institution closes. The loan will also support the process of winding-down campus operations and prepare for selling the land to fulfill its financial obligations, Chrisler said.

She expects the loan to finalize in July after a "short period of due diligence."

"In the long-term, the loan also affords the opportunity to create future uses of the campus for purposes in line with the values of Hampshire College," Chrisler wrote in the email.

However, Chrisler wrote that the loan "does not guard against all potential challenges to teach-out operations." She said college leaders are still working to secure insurance and is working with the faculty union this week to finalize a cohort for the teach-out period.

In her email, Chrisler addressed both students, saying, "I am sorry for the uncertainty you have been managing," and faculty, expressing her "appreciation and admiration" for their work.

Chrisler has attributed some of the Amherst liberal arts college's financial difficulties to its failure to increase enrollment in recent years.