Wells College, in New York, announced Monday that it will close at the end of the spring term. The private nonprofit institution said it has faced prolonged financial distress that it was unable to address through fundraising or other measures. Wells also cited demographic challenges, the pandemic, inflation and “an overall negative sentiment towards higher education.” In its notice, which came just days before the planned closure, Wells leaders said they had recently had “conversations with other academic partners,” to no avail.
