Hello! I have been doing a lot of research on small, unique, self-directed type colleges and I have noticed that a lot of them seem to be struggling quite a bit financially (eg. Hampshire college, which has basically been on the verge of collapse since about 2019). Should I be concerned at all about the financial stability at COA? Have there been any signs of financial distress in recent times? I would really love to attend this type of institution, but I would also really love to go to a college that will actually still exist in 10 years time. Thanks!
Hi there, this is a great question and an important one.
Here are a few things to hopefully help allay your fears:
1) College of the Atlantic has a very robust endowment, currently around $90 million, which is quite large for a college of just 350 students. By comparison, Green Mountain College had an endowment of less than $3 million when it closed, and Marlboro College had around $23 million when it closed. Hampshire College has an endowment of around $55 million, with more than double the number of students.
2) A big part of the reason for our relative financial stability is that we have a really strong and engaged base of donors. It’s this donor support, along with revenue from our endowment, that allows us to provide such strong financial aid for our students. As one example of our fundraising success, our recent capital campaign raised $55 million in three years, some of which went to the endowment to support scholarships and faculty salaries, and some of which helped us build our new academic building (the Davis Center for Human Ecology) and our new student residence, Collins House.
3) Our small size, our unique academic program, and our lean staffing model mean we don’t have a lot of fluff in our budget: the funds we raise go primarily toward running our academic program and supporting our students. We don’t have sports teams or athletic facilities; we don’t have a multiple academic departments and majors all jockeying for resources and driving up costs. We see our model as a strength in helping us remain flexible and resilient even as other colleges have struggled.
4) Our enrollment has remained strong. When you look at the colleges that have closed or are on the brink of closure, you will typically see multiple years of declining enrollment. That fortunately hasn’t been the case for us. We believe our educational model is increasingly relevant in today’s world, and that has kept our student body vibrant and at our ideal size: 350 students. We’re not aiming to grow our enrollment, we’re aiming to stay where we are, at a size that suits our facilities and that fosters a strong sense of community and close relationships between students and faculty.
So, yes: we’ve been around for 50 years and we aim to be around for at the very least another 50! You won’t get a lazy river or fast food or all the bells and whistles at COA: but we think what you DO get -- a rigorous, experiential and self-designed education, a supportive community, and faculty who will be mentors and guides as you navigate your education, your career, and becoming the best version of yourself -- is incredibly valuable, and relevant, and a reason why COA will continue to thrive.