This year has seen the winding down of several historic private colleges, including Wells College in New York and Goddard College in Vermont. Announcements of their closures sparked shock, grief and dismay. Arguably, the most dramatic closure came at the University of the Arts in Philadelphia. The public releases announcing the closure were conspicuously short on details. A statement from Walk and UArts board Chair Judson Aaron on May 31 alluded, vaguely, to “a cash position that has steadily weakened” that meant the university could “not cover significant, unanticipated expenses.” They added: “The situation came to light very suddenly. Despite swift action, we were unable to bridge the necessary gaps.”
