Wells announces it will close at the end of the semester. Board of Trustees Chair Marie Chapman Carroll and President Jonathan Gibralter writing: “As you may be aware, many small colleges like Wells have faced enormous financial challenges. These challenges have been exacerbated by a global pandemic, a shrinking pool of undergraduate students nationwide, inflationary pressures, and an overall negative sentiment towards higher education. 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. We acknowledge the work from all board members and college leaders, especially members of the Cabinet, our faculty, staff, and graduates on creating strategic plans, sponsoring aggressive fundraising campaigns, launching innovative new programs and managing our resources with care. Your efforts are appreciated more than you know. But revenues, unfortunately, are not projected to be sufficient for Wells’ long-term financial stability.” (link)