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Students entering their final semester will now be able to receive their degrees, as planned.
People walk across campus at Hampshire College in Amherst. Finn Gomez/The Boston Globe
Hampshire College says it has secured financing that will allow it to complete a fall 2026 semester before closing for good, reversing concerns raised last week that the school might not have enough money to carry out the process.
In an email sent Thursday to the college community, Hampshire College President Jenn Chrisler announced the school had reached a loan agreement with an unnamed philanthropic partner to support operations through the end of the fall semester.
The funding will allow students in their final semester to complete their degree before the college closes.
“This agreement provides a level of financial confidence that was not previously available,” Chrisler wrote. “With this new information, the board of trustees voted over the weekend to continue with the summer and fall teach-out as planned.”
The Amherst college, which enrolls roughly 800 students and is a member of the Five College Consortium, announced in April that it would cease operations after the fall 2026 semester.
Plans for a coursework “teach-out” appeared to be in jeopardy last week when Chrisler alerted the Hampshire community via a May 28 email that the college might lack the necessary funding to finish the process.
However, the new loan, which is expected to be finalized next month, will provide enough financial resources to support academic programs through Dec. 31, 2026, according to Chrisler.
“While we cannot let up on moving towards successful land sales to fulfill our financial obligations and facilitate an orderly operational wind-down, this new loan agreement enables us to proceed with greater confidence in our plans,” Chrisler wrote. “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 cautioned, however, that the teach-out still faces financial hurdles. The college is continuing to seek necessary insurance coverage and remains dependent on philathropic support as it winds down operations, Chrisler said.
She added that the college is working with the Hampshire College Faculty Union to establish a faculty cohort for the teach-out period.
“We are pleased to have had constructive conversations with the faculty on a framework to ensure that we have the expertise, advising capacity, and mentorship necessary to support the students remaining at Hampshire through the teach-out,” Chrisler wrote.
The college is also continuing efforts to sell portions of its land in a way that meets its financial obligations while preserving Hampshire’s mission and legacy, she said.
The teach-out will be followed by the college’s permanent closure.
While Hampshire announced its closure in April, administrators cited persistent financial challenges, including stagnant enrollment, an inability to refinance debt, and the failure to generate anticipated revenue from the sale of a portion of its land, according to a statement updated May 21 from Chrisler and the Board of Trustees.
The college’s financial statements for the year ended June 30, 2025, show net revenue was $36.4 million, while total expenses were $40.39 million.
Closing her Thursday message, Chrisler acknowledged the uncertainty facing employees as the institution prepares to shut down.
“While I am sharing positive developments today, the good news sits within the wider context of loss and transition as we say goodbye to colleagues and friends,” she wrote. “This week, we will finalize the small contingent of staff required for teach-out and wind-down, and we will ensure that employees have as much clarity on their roles and timelines as feasible.”
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