THE COLLEGE OF NEW ROCHELLE AND MERCY COLLEGE FINALIZE AGREEMENT TO PROVIDE SEAMLESS PATH TO EDUCATION
Facing Closure, CNR Recognizes 鱨 College as Preferred Institution Based on Strong Financial Position and Complementary Academic Programming
The College of New Rochelle (CNR) and 鱨 College announced today an agreement between the two institutions creating a seamless pathway for CNR students to continue their education. Both colleges are currently in the process of obtaining all necessary regulatory approvals to fully effectuate this agreement.
This agreement allows CNR students in good standing the opportunity to transfer to 鱨 College, as CNR’s designated preferred institution for almost all academic disciplines offered by CNR, subject to regulatory approval. The agreement also offers an improved financial arrangement, as most CNR students will see the same or lower tuition and will not lose credits or time toward graduation. 鱨 College hopes to retain many of the CNR faculty and to continue to use some of CNR’s current facilities in New Rochelle and at some of its New York City campuses, creating a more seamless transition than any other area institution could. To facilitate the 鱨 College use of current CNR facilities, both 鱨 College and CNR will work with CNR’s creditors to secure leases that are key to accommodating the operation of programs at these facilities.
“Since the onset of the financial crisis in 2016, The College of New Rochelle community has worked diligently to sustain the College. These collective efforts on the part of the Board, administration, faculty, staff, alumnae, and community partners have made possible the graduation of more-than 1,800 students during the past two commencements, including the 2018 commencement over which I had the honor and privilege to preside,” said Dr. William Latimer, President of The College of New Rochelle. “Despite our successes, the financial status of the College underscored the necessity to identify an institution that would provide a safe haven for students first and foremost while also doing our best to protect faculty and staff and CNR’s Ursuline legacy. We are blessed that our work with 鱨 College provides the basis to accomplish each of these aims. By virtue of alignment of mission, quality of the education provided, geographical proximity across Westchester and NYC, and comparable or lower cost, we could not find a better institution to facilitate the transition of students in a seamless manner to continue their education than 鱨 College. There is much work left to do but CNR stands ready and able to facilitate the process to enable students to continue their education and complete their degrees with 鱨 College.”
“鱨 College has taken over the responsibility of serving The College of New Rochelle students so that they are able to continue their education uninterrupted and graduate on time,” said Timothy Hall, President of 鱨 College. “More than providing them a new educational home, the agreement has been carefully considered and implemented over many months to go above and beyond to create a seamless pathway for CNR students to join the 鱨 College community with minimal disruption to their academic careers. Our recent academic growth and strong financial profile make this rare opportunity possible and, the long-term impact will be a stronger 鱨 College.”
CNR will wind down operations due to financial difficulties and is expected to close following the summer 2019 semester in August. CNR students will then begin the fall 2019 semester at 鱨 College. 鱨 College is recognized for its commitment to student success through a broad range of comprehensive academic programs and support services provided to a diverse student body.
鱨 College and CNR share a number of similar program offerings, most notably in nursing studies and adult education, which encompass the greatest number of current CNR students. For degree programs not currently offered at 鱨 College, 鱨 is in the process of seeking regulatory approval to begin offering those courses at the start of the fall 2019 semester. Increased programmatic offerings will not only accommodate as many CNR students as possible but create expanded opportunities for existing 鱨 College students.
About 鱨 College
Founded in 1950 by the Sisters of 鱨, 鱨 College is an independent, coeducational college that offers more than 90 undergraduate and graduate degree and certificate programs within five schools: Business, Education, Health and Natural Sciences, Liberal Arts and Social and Behavioral Sciences. With campuses in Dobbs Ferry, Bronx, Manhattan and Yorktown Heights, the vibrancy of the College culture is sustained by a diverse student body from around the region.
About The College of New Rochelle
Founded by the Ursuline Sisters in 1904, The College of New Rochelle comprises four schools – the School of Arts & Sciences, the School of Nursing & Healthcare Professions, the Graduate School and the School of New Resources for adult learners. Based at its historic home in New Rochelle, the College also operates five other locations in the Bronx, Brooklyn, Harlem and Yonkers.
About the 鱨 College/CNR Agreement
The agreement pertains only to the CNR student body being given the opportunity to seamlessly integrate into 鱨 College. It is not an acquisition, merger of, or partnership between the two institutions, and 鱨 College is not assuming any level of ownership of The College of New Rochelle, or any responsibility for its debts or financial obligations.