NEW ROCHELLE - The College of New Rochelle announced that it's expected to close by the summer of 2019. This summer, CNR isn’t offering academic instruction at the Co-op city campus or John Cardinal O’Connor Campus in the Bronx. Since then, the college has made major cuts and has been accused of making faculty members (who have lost their jobs) pay for mistakes made by administrators. "The discussions are now focused on finalizing an arrangement with that institution that would meet the continuing educational needs of CNR’s students without interruption and may necessitate the retention of a number of faculty and staff.".

The school also had to push up several classes to July so that students would have enough time to graduate in August or to obtain the credits they planned for the summer, Latimer’s letter stated. In March, former Controller Keith Borge, who retired several months before the crisis was announced, pleaded guilty to charges of securities fraud and not paying payroll taxes. An exact closure date "will be shared when that determination is made," New Rochelle president William Latimer and Board of Trustees interim chair Marlene Tutera said in a statement. The college has also been trying to resolve issues related to the unpaid taxes and incomplete budgets.

He faces up to 30 years in prison and is due to be sentenced on Aug. 28. Then a few weeks later, the college announced that it had not made payroll taxes for two years and owed about $20 million in such payments.

A New York State judge ruled last week that the college improperly dismissed a group of tenured professors in 2017, in violation of terms set in the faculty handbook. The cuts have been controversial and contested in court.

The College of New Rochelle has some challenges that are typical of Northeastern private colleges without much money.

Hampshire College has announced that it will not admit a full freshman class while the college explores options for mergers or partnerships. Be the first to know.Get our free daily newsletter.

The College of New Rochelle, which said last month that it would likely close by the end of the summer, will officially cease operations at the end of the summer semester and has entered into an agreement that will allow students to complete their education at nearby Mercy College.

Because of this matter and the ongoing financial challenges, the college’s auditor has not yet made a final determination as to CNR’s ability to continue as a going concern.". The two institutions detailed the agreement in a joint announcement released Tuesday. Your California Privacy Rights/Privacy Policy. "While this is not the outcome we had hoped for regarding the future of CNR, we can take solace in the fact that this is not a reflection of the quality academics that CNR offers nor the impact this college has had on so many communities and for so many individuals for the past 115 years," they said. "That institution is not considering a merger or acquisition of the college and is not considering the assumption of any of the college’s debt," said the memo. It’s discussing a deal to lease some of its space to Mercy College, which will take on some of CNR’s former students through a transfer agreement. The college's economic free fall has roots that are different from those of other institutions. But Mercy College is offering to take on eligible students and some faculty. Some 857 employees will be laid off on July 8.


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“While this information on the date the College will permanently cease academic instruction is not unexpected, we recognize that it is still difficult to receive for it marks the end to a remarkable journey for The College of New Rochelle that began in 1904,” a letter to the college community from President William Latimer said. CNR is likely to close after the summer semester.

Iona College is offering a lifeline to some students at the College of New Rochelle following last week’s announcement that the institution is likely to close at the end of the summer semester as they contend with a financial crisis.. Further, the college had additional debts of more than $11 million and said that budgets prepared for the board were inaccurate. The memo issued Friday said, "The College of New Rochelle‘s audited financial statements for the fiscal year ended June 30, 2018, have not been completed due to open audit items. The last few years have been tumultuous for many U.S. colleges. The College of New Rochelle announced Friday that it will likely close by the end of the summer of 2019.. A memo to the campus from the president and board chair said, "The college continues to experience significant cash flow challenges. Weeks later, the college announced that it had not made payroll taxes for two years and owed about $20 million. Be the first to know.Get our free daily newsletter. CNR: College holds commencement as it prepares to close.

College students received a letter Friday to address the closing.

The College of New Rochelle (CNR) was a private Catholic college with its main campus in New Rochelle, New York.It was founded as the College of St. Angela by the Ursuline Order as the first Catholic women's college in New York in 1904, when women were generally excluded from higher education. Faculty members who had their fall and spring salaries annualized through Aug. 31 will receive their pay before Aug. 10, the letter said.

The agreement will allow New Rochelle students to automatically transfer to Mercy for the fall 2019 semester. Follow Mark Lungariello on Facebook: @lungariello; and Twitter: @marklungariello. The college is closing its doors this summer, unable to dig out of a financial crisis that led to federal charges against its former controller. It’s expected that the college will file for Chapter 11 bankruptcy sometime after Aug. 10.

Those pressures have caused some to close.

In multiple forums, President [William] Latimer has stated that the three courses of action facing the College of New Rochelle include closure and teaching out existing students, partnership or standing alone.

At this point in time, it appears unlikely that the college will be able to continue operations beyond the end of the summer 2019 semester.

Mercy will also apply to New York State to offer New Rochelle programs that it doesn’t currently offer, including a liberal arts bachelor’s degree and nursing programs.


In a Feb. 22 memo to the campus, Latimer and Tutera said the college “continues to experience significant cash flow challenges” and that “it appears unlikely that the college will be able to continue operations beyond the end of the summer 2019 semester.”. We are retiring comments and introducing Letters to the Editor.

Mercy said it is hoping to hire several New Rochelle faculty and staff and is exploring the possibility of leasing portions of New Rochelle’s Westchester County and New York City campuses.

The college, which enrolls nearly 3,000 students, has struggled to recover from several financial crises in recent years. Tim Hall, the President of Mercy College and William Latimer, the President of the College of New Rochelle, talk about a plan for the future. The College of New Rochelle will hold its last classes ever on Aug. 10, marking the final academic chapter in the school’s 115-year history.

Pressure to lower tuition, stagnating state funding and a shrinking pool of high school graduates has strained many institutions’ bottom lines and questioned their long-term viability. College of New Rochelle has been unable to recover from scandal involving false budgets and unpaid payroll taxes. In 2016, the college announced the abrupt resignation of President Judith Huntington, saying that the turnover at the top came after trustees learned of “significant unmet financial obligations” that had the institution preparing for major budget cuts and possible financial exigency.


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