Home News When should a college say it might close? – Education Dive

When should a college say it might close? – Education Dive

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A new Massachusetts law illustrates the difficulty of monitoring institutions in financial distress, but it may serve as a model for other states grappling with similar issues.

The abrupt closure last year of Mount Ida College, in Massachusetts, rocked the higher education community in a state known for its large and influential sector of private colleges.

Its impact was so significant that it moved the state’s legislature to pass a law, which Gov. Charlie Baker signed earlier this month, designed to monitor colleges’ financial health and, hopefully, prevent similar closings — the ones largely unforeseen to students.

Mount Ida’s 1,500 or so students had been given little warning of the college’s collapse. Though most of them were offered automatic admission to the University of Massachusetts at Dartmouth, the scenario was far from ideal considering the 60-or-so-mile distance between the two schools.

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