Goddard College in Vermont became the latest small liberal arts school to close, joining a wave of institutions that have made such announcements in recent months.
The college, which is outside Montpelier and has just 220 students, cited a "significant and persistent decline in enrollment since the 1970s" in a
Founded in 1938, Goddard prided itself on a progressive education philosophy that "each person is truly unique." There was a six-to-one student-faculty ratio, according to 2022
"The closure of Goddard College is a significant loss for students in search of an alternative, progressive higher education," Mark Jones, chair of the board of trustees, said in the statement. "The decision to close Goddard College was not made easily or quickly. With declining enrollment and financial insolvency looming, the Board was left with no other option."
Institutions across the US — particularly small, liberal arts colleges — face an increasingly tough operational environments. A demographic shift that threatens lower enrollment, combined with rising costs of attendance, are just two of the challenges schools are dealing with.
About 200 schools met at least three of the five metrics that Bloomberg used to identify rising pressure on non-profit higher-education institutions with less than 5,000 students, according to an analysis of federal education data.
In Vermont alone,
Enrollment at Goddard has fallen precipitously. The student body is down from over 1,900 students in the early 1970s, according to the school.
"Despite trying many different approaches including partnerships, Goddard College could not beat the trends of inflationary pressures, demographic shifts and changing educational preferences," the college said in the statement. "The closure of Goddard College mirrors a trend seen in numerous higher education institutions across Vermont and the nation, all grappling with similar challenges."
The school has no municipal-bond debt outstanding, according to its
