Wells College had been preparing for its shutdown since September 2023, months before its April 2024 closure announcement. According to The Citizen, court records show the college quietly explored contingency plans, including partnerships with other institutions, due to worsening financial issues.
Despite public messaging that painted an optimistic picture, including rising applications and retention, internal documents reveal the board anticipated the end. A teach-out deal was even signed with Hobart and William Smith Colleges four months prior to the public announcement.
Though Wells later chose Manhattanville University as its legacy partner, talks fell through. The college ultimately finalized an agreement with Hobart and William Smith, transferring its $27.8 million endowment and historical assets pending court approval.
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