Hampshire College to Sell Campus to Pay Off $25 Million Debt

Hampshire College in Amherst, Massachusetts, will sell its 800-acre campus to pay off approximately $25 million in debt, President Jennifer Chrisler announced in a letter to the community. The college, which announced its closure on April 14, 2026, has struggled financially for years, missing its 2025 enrollment goal by half—recruiting 168 students instead of 300—and enrolling 750 full-time students in 2025, up from 500 in 2022. The debt was primarily incurred in 2010 and 2016. Despite attempts to increase enrollment, refinance debt, and sell land, the college's financial stability proved unsustainable. An independent audit by CliftonLarsonAllen in late 2025 reported over $20 million in debt and a $3.7 million operating deficit, with an auditor expressing 'substantial doubt' about Hampshire's ability to continue. In 2024, the college laid off non-faculty employees, suspended benefits, and cut senior leadership pay. Lenders have prioritized repayment, and the college has retained a broker to find a buyer quickly, though the process will remain largely confidential. Hampshire is one of over two dozen Massachusetts colleges to close in the past decade.