Due to financial concerns, Cazenovia College will not be enrolling students for the 2023-2024 academic year. The College is working toward closure prior to the start of the Fall 2023 semester. The College will complete the Fall 2022 semester as scheduled and will be fully operational in the spring holding classes and events, including athletics and other normally scheduled activities. During the Spring 2023 semester the College will also assist students with their plans for transferring for Fall 2023.
Cazenovia College has survived through many difficult and challenging times – the Great Depression, World War II, a major campus fire in 1959, and more, but the current financial challenges are more than the College can overcome.
The business realities that led to this extremely difficult decision were accelerated by the global pandemic and skyrocketing inflation. The population of college-aged individuals has been and continues to shrink making it hard for small private colleges like Cazenovia to maintain enrollment levels. Since its peak with nearly 1,000 students on campus, Cazenovia’s enrollment has dropped by over 40 percent.
Additionally, the coronavirus pandemic dramatically impacted recruitment and fundraising efforts while increasing economic burdens for the College. Large investments were made in technology and campus safety measures while enrollment dropped with students choosing to postpone college or take a leave of absence, which negatively impacted the College’s financial situation.
Lastly, the recent uncertainty in the bond and stock markets made it exceedingly difficult to refinance the bond debt which came due in September. Being a small college without a large endowment has made the College’s challenges formidable.
While the College worked tirelessly to strengthen its financial position, unfortunately, these efforts did not create results to ensure long-term viability.
The College encourages individuals to review the Q&A documents through the links below for more information regarding the closure process as well as the academic support and transitional services the College will be providing.