Opinion: Hampshire at the Crossroads, Part 2: Hampshire Needs to Rethink Higher Ed Again?

Hampshire College is in the midst of a presidential search. After impressive enrollment growth since its near closure in 2019, the recovery is stalling out, as evidenced by a decrease in enrollment for this fall. 

A visionary new president, governance reform, and a different model of community involvement are needed to return Hampshire to its original exceptional role in higher education. 

Clarifying Hampshire’s readiness to radically innovate its business model could help attract more exceptional candidates. I wrote about the search process in part one of this series, “Hampshire at a Crossroads”.  

Broken Business Model
It’s not just Hampshire – all but the most elite colleges’ positions have become more precarious as demographics and other external factors shift (and even elite colleges face challenges in the current political environment). Hampshire was one of the most notable colleges that narrowly averted closure or merger, and its fate is of great interest to other colleges. The good news is that while Hampshire has made some wrong turns in its recovery, it’s not too late to get on the right path. 

Former President Wingenbach’s successive strategic plans forecast temporary measures, such as land sales, special endowment draws, and fundraising for operating revenue, as enrollment rebuilds. Bringing down the cost structure of Hampshire to be in line with the amount that students and families were willing to pay was also prioritized. The interim president, who began her term on July 1, has been continuing this strategy. 

However, these measures are only enough to pull Hampshire back from the brink temporarily and buy time for a change in the business model. Leaders missed crucial lessons from Hampshire’s history, the changing landscape of higher education, and society-shifting technological breakthroughs. 

Unfortunate Cuts
Former President Wingenbach and others in his administration, including Interim President Chrisler, have demonstrated strength in making budget cuts rather than pursuing a closure or merger opposed by the community. They have helped steward the college through the pandemic and last year’s national FAFSA debacle. However, their decisions also need to be viewed in a larger context to see if some of the cuts were counterproductive and what was happening on the revenue side. 

Following the 2019 crisis, Hampshire needed to raise funds to make up for lost enrollment. Campaign for Hampshire’s original goal was $60 million by June 30, 2024, but by then it had only reached $42.6 million. This is not a capital campaign for a building that can always be built later; it’s for operating funds, meaning the shortfall had to be made up for with budget cuts. 

A volunteer group, the Campaign Council, supports the fundraising. The volunteers have raised a lot of money, but I wanted to know more about the council in case I can suggest new members or philanthropic sources to them directly. I emailed Melissa Mills-Dick, the media relations contact for the college, to request additional information about the council. She replied nearly a month later, indicating that “In accordance with our general practices regarding protecting donor information, we do not publicly post the membership roster.” However, a press release from the college back in 2019 disclosed four of the members (who are also co-chairs). The board of trustees also conducts fundraising and philanthropy, according to their bylaws, but its membership is not secret.  

In the summer of 2024, after it became clear that enrollment was falling short of projections, Hampshire eliminated 29 positions and implemented a staff reorganization. Chrisler was then promoted to vice president of Institutional Support, and Admissions was folded into that division. The admissions director position was eliminated along with a number of admissions counselors. Support positions were consolidated into the larger division. Around this time, seasoned staffers left, and later, the dean of admissions. There were eleven admissions counselors in May 2025 and just four currently, plus an interim dean of admissions. 

In April 2025, nearly a year after the major cuts and reorganization, Jennifer Chrisler wrote to me, “Hampshire is in its healthiest financial position in a decade or so, and continues to improve. The campaign surpassed $50M in gifts and pledges this week, and our applications are at a ten-year high for the fall 2025 enrollment cycle.” However, in August 2025, it was announced that enrollment would be down to 800 for fall 2025 (the September count is closer to 750). This article in the Daily Hampshire Gazette mentioned that the goal had previously been to reach 1200 students by fall 2024. 

Masha Gessen wrote in the New Yorker in 2019, “Hampshire depends on tuition for the bulk of its revenue; not admitting a full class, then firing much of the admissions office and crippling any fundraising efforts by cutting development staff, meant that the college appeared to be entering a death spiral.” While last year’s cuts to the admissions staff were less severe, and Hampshire’s presidents may blame enrollment declines on external factors, it’s dramatic that Hampshire has had the majority of its admissions counselors and admissions leadership turn over for the second time in six years, because a rebound of enrollment is a key part of Hampshire’s recovery plan. A faculty leader wrote about the lack of financial transparency and shared sacrifice in The Daily Hampshire Gazette.  

Each projected revenue stream from the strategic plan has fallen behind: an expected forest preservation deal was canceled, the land sale behind Atkins has been delayed, and fundraising and enrollment are below projections. The college is running out of unrestricted funds in the endowment, which means they can no longer use special draws from the endowment to subsidize the budget unless they can release existing restrictions. Additionally, Hampshire has been unable to refinance its bonds after violating covenants.  

“Project Breakeven”
Hampshire was created by the four other schools of the Five College Consortium to solve problems like how to provide a strong education to the rising number of students entering college (at the time) at a low enough cost that it would be covered by tuition rather than state or donor funds. That was an excellent goal for its time because it would make it easier to replicate Hampshire’s innovations. The breakeven goal was mentioned in “Hampshire College: A Quest for a Balanced Budget” (Science, 1970); more details are in “The New College Plan” and The Making of a College. 

While Hampshire found some significant efficiencies, it’s clear today that the high-quality education that Hampshire provides is not cheap to produce. Neither Hampshire nor anyone else has figured out how to inexpensively produce a residential, intensive, values-based, and transformative experience.  

Small and Transformative or the Opposite?
Hampshire College underwent an academic re-envisioning under Wingenbach, but an enduring lesson from now-defunct liberal arts colleges is that transformations often don’t go deep enough. Marlboro College is one cautionary example. 

Paul LeBlanc was president of Marlboro College from 1998 to 2003. It was a tiny college with a similar pedagogy to Hampshire. LeBlanc led the creation of a graduate school there, but Marlboro’s board refused to let the graduate school go completely online. He then left to lead SNHU, where more of his innovations were adopted. Now SNHU has about 200,000 students! Had Marlboro followed a similar path, it likely would have had enough revenue to subsidize its undergraduate program. 

Marlboro didn’t make sufficient budget cuts or innovations, so it closed. However, Hampshire shouldn’t adopt the same model as SNHU, which is primarily for career advancement rather than a more transformative experience, but it should learn from the cautionary tale of what happens when change is insufficient.  

Entrepreneuring 
I spoke with Dr. Mary Landon Darden, author of Entrepreneuring the Future of Higher Education, who explained that we have a limited time to save the academy. “Colleges are not changing as fast as they need to. Most of them need radical transformation…the world is changing so fast, and we are not changing even close to the same rate. And so we’ve got to get our act together and be more innovative, more entrepreneurial, and be more relevant.” 

Darden has been saying since at least 2012 that college would become free, and we can now see this happening. For example, in Massachusetts, subject to certain conditions, tuition is free at public universities, community colleges, and some private colleges such as Mt. Holyoke. Moreover, online programs are constantly improving, and some are very affordable. It’s like when Netflix came around and Blockbuster couldn’t radically change its business model. The same thing could happen to higher education, and just as fast. 

Unfortunate Cuts
Cost-cutting has been intense at Hampshire and may need to continue for a time; however, this will have diminishing returns and negatively affect morale and program stability. In You Can’t Cost Cut Your Way To Growth, Shannon Power explains these dynamics for business, many of which carry over to higher education. 

It’s time to move into bolstering budgetary controls with new revenue sources. Darden uses the analogy of a three-legged stool, adding revenue streams (eventually becoming a multi-legged stool, which is more sturdy). Hampshire should establish inclusive re-envisioning groups to compile at least ten ideas that could raise $5-10 million each. Then, they should categorize these ideas into those that are ready to implement and those that can wait or may require further research. 

Innovators Paradox
An alum I know spoke with the leader of another college, who boasted that they have incorporated Hampshire’s good ideas. But it was always envisioned that Hampshire would 1) conduct experiments that were not possible within existing institutions because they tend to rigidify over time, and 2) Hampshire’s innovations would affect other colleges (it’s even in its mission statement). 

Warren Buffett has discussed the importance of having a sustainable competitive advantage in business. A similar dynamic works for colleges, especially as there is increased competition to recruit from a smaller pool of prospective students. To remain competitive with wealthier colleges, Hampshire needs to continually renew itself, reaching out to tackle challenges on multiple fronts.

Vice President of Revolution
Charles R. Longsworth, one of Hampshire’s founders, is quoted in The Making of a College: “Many other ways and means to maintain an innovative liveliness for the College appear promising; one suggestion is to have ‘a vice-president in charge of revolution.’” Hampshire must welcome disruptive forces internally to prevent it from calcifying like other schools. 

Reimagining Community to Help Solve Problems

Re-envisioning – Again
Hampshire’s challenges require many minds. Professors are subject matter experts within academia. Alumni help avoid institutional immobility, expand thinking, are the most numerous stakeholder group, and know the outside world. Students have a future view, understand what resonates with their interests and ambitions, and know what makes sense to them. Employees understand what it takes to implement programs. I write more about the role of each stakeholder group in “Rethinking Hampshire Community.” 

In recent years, liberal arts colleges, including Hampshire, have struggled to develop new business models. I have presented here the beginning of a framework. Below is a list of ideas for improving revenue, but the holy grail is what fits with Hampshire’s unique culture, obstacles, and strengths. Creating a good process for proposing, picking, planning, and executing is critical. 

Volunteers

• Alumni can complete projects that inspire others to donate and make a difference.
• Alumni Action Group is doing some good work, but it is limited by its structure and mandate (60 volunteers were turned away after the 2019 crisis).
• Allow volunteer groups to run independently from the college after ground rules are established. 
• Look at Mt. Holyoke College’s website, which makes it easy for volunteers to get involved.
• Look at Sweet Briar’s Sweet Work Weeks. 

Employee Relations
Kevin McClure, author of The Caring University, explains that making schools better places of employment creates a competitive advantage. Dynamism is essential for employees to excel at mentorship, ambassadorship, and helping to change the business model. 

Board Reform
Hampshire’s board and president nearly closed the college in 2019, but there has been an absence of substantial board reform or post-mortem. I’ve written about the problem and reform ideas here. 

The Last Mile
College graduates tend to perform better, on average, over the course of their lifetime across various indicators. Hampshire graduates have high rates of entrepreneurship and graduate school attendance, but many who don’t go that route face challenges right after graduation, including labor market shifts. Three out of five seniors are concerned about finding a job after college. The challenges that recent graduates face in finding traction can be referred to as the “last mile”. Colleges that help move the needle on this issue can help their former students as well as gain a competitive advantage. 

The last mile would be a good area for a re-envisioning group, which can conceive of a desired result and then determine practical steps to achieve it (e.g., industry partnerships, alum volunteer boot camp, etc.). The incubator idea below can provide opportunities to work on the local and regional scale. 

Virtual options should also be explored. Jane Swift, the former acting governor of Massachusetts, told me that, “there are models like Riipen and Practera that are virtual, project-based and embedded in the curriculum that work at schools like Hampshire.”

Intrapreneurship
Allow students, employees, and alumni to propose and lead programs that address Hampshire’s challenges. I have seen numerous grassroots initiatives proposed by students, parents, alumni, etc. that are dismissed because they don’t fit into the narrow purview of a particular administrator or because they don’t follow an expected path for consideration. 

How to Increase Revenue in the Current Model

Auxiliary Income

• Student housing – assess remaining usable rooms not rented to students or employees. Look into Every Campus a Refuge, which offers $10,000 for setting up a program, after which refugee agencies raise the money for rental fees.
• Event rentals – increase wedding and other rentals by highlighting availability in the alumni newsletter.

Fundraising – Widen the Circle

• Hire a new president with success in fundraising from outside donors (note: Bard raised $500 million from George Soros).
• Invite the community into a re-envisioning summit for fundraising.
• Bequests – reach out to all alumni to ask them to put Hampshire in their will.
• Annual fund – outsource a comprehensive effort to be run by a diverse and autonomous group of alumni volunteers, rather than the college, to try to reach every alum directly and bring in at least $1 million more than the current annual fund. Remember that small donors attract big donors!

Increasing Enrollment

• Reverse the staffing cuts in Admissions.
• Add an admissions counselor focused on working with parents, alumni, and college employees who have referrals and recruitment ideas. 
• Implement suggested solutions in “To Succeed, Hampshire Must Get a Lot Weirder.” 
• Reboot a robust volunteer Hampshire Admissions Associate Program
• Create a program of study for the ethical use of artificial intelligence.*

*Convene a technology summit to regain Hampshire’s edge (see: “The Unmaking of an IT Department: A Cautionary Tale”). An article published in June 2024, “Adapting to AI: a Chronicle of Higher Education Guide,” mentions that “in the next five years, more jobs will be created in artificial intelligence and machine learning than in any other sector” (according to the World Economic Forum). Some of the suggestions include industry and K-12 partnerships. Areas where Hampshire has demonstrated strength in the past include integrating previously marginalized groups into science, offering summer programs for high school students, and promoting more ethical use of AI. 

New Revenue Sources

Land Use
Hampshire’s campus has nearly 800 acres and fewer than 800 students. It needs to develop multiple ways to earn revenue from this land (which is more desirable than having to sell undeveloped land or close the college). 

• University-Based Retirement Communities can create revenue (through the sale of residential units or a larger development) and provide job opportunities for students. Seniors may take courses or even offer mentorship.
• Hampshire has borrowed money to be repaid when its land behind Atkins Market is sold. It needs to improve its approach to finalizing that sale. More in “Not Too Late for Transparency”. 
• Hampshire is missing $4 million that the strategic plan expected from a deal to preserve Hampshire’s forest. There was community opposition to the deal but the issue should be explored again, this time with transparency and inclusion from the outset. Hampshire previously arranged to preserve another part of campus. Guilford College also made a preservation deal, which aims to raise $8.5 million.   

Entrepreneurial Education
The slogan “Be an Entrepreneur of Your Own Education” is used on Hampshire’s website and promotional materials. This slogan refers to Hampshire’s self-directed curriculum and reflects that many Hampshire alumni become entrepreneurs. Support for entrepreneurial education (for starting and running businesses and organizations) has ebbed and flowed over the years. Hampshire still has aspects of the Lemelson program, such as the Design Lab and related courses. 

Venturewell was founded at Hampshire College as part of the Lemelson program (it was initially called National Collegiate Inventors and Innovators Alliance). It is now an independent program and, over 30 years, has helped start ventures that have received $7.5 billion in funding. New programs at Hampshire should mesh with Hampshire’s values of collaboration, diversity, and social benefit. 

Five College Center for Innovation
This center would be a neutral, flexible space for work on educational innovations and societal problems that no single college can address on its own, as these are higher-risk projects. Various funding sources and partnerships are possible, such as pooled funding from the consortium, foundation grants, and industry and non-profit partnerships.

A similar idea from Charles R. Longsworth, one of Hampshire’s founders, was mentioned in The Making of a College: “An RD Laboratory (not Research and Development, but Radical Departure)… ‘a special educational laboratory on the campus for the really wild things to be tried…where institutional or faculty reputations would not be lost; only made.’” 

Business and Organizational Inncubator
An incubator would provide revenue for the college and jobs for students. It would be established through careful community planning and would be different from previous initiatives at Hampshire by focusing on revenue from donor investment for addressing societal problems. The incubator would be woven into Hampshire’s culture and its more recent curricular innovation, the Learning Collaboratives (which are parts of the academic structure that work collaboratively on urgent societal problems). 

Matt Hoey is the co-founder of Canopy, which was an international business incubator headquartered in Boston, and he worked closely with MIT. He told me that “Hampshire’s experimental, interdisciplinary identity is a strong brand for an incubator—especially one tilted toward social impact and public problem-solving. That gives it a unique market niche compared to tech-centric incubators, but combined with tech-centric, it’s a complete package for solving a range of industry and social challenges.” 

Some project leaders might be connecting their Division 3’s, which are students’ independent capstone projects, to the incubator. It should also be connected with the Pioneer Valley entrepreneurial ecosystem, which includes educational institutions, for-profit, and non-profit organizations for entrepreneurs. This would attract donations from current and outside donors, who are tired of the same old pitches, by presenting them with a more diverse menu of donation options. There are big donors out there who would get excited by bold and different opportunities, and the desire to make an outsized impact. 

Benefits:

• Attracting students to Hampshire.
• Funding work-study jobs on campus each semester and summer.
• Providing jobs after graduation through a 5-college incubator – a hub and spoke model brilliantly advocated by Hoey. 
• Funding faculty and staff positions in entrepreneurship.
• Attracting sponsorships that help Hampshire’s operating budget.

Beyond
There are many other ways that Hampshire can generate new revenue, but these projects must be planned transparently and inclusively so that they complement the community’s values; otherwise, they will not be effective. 

To build a new business model, Hampshire needs leaders who are competent at community leadership and launching new ventures. The college needs community-wide ongoing co-creation with no stakeholders left behind—all must be invited to the table.

The community must speak up, be aware, get informed, demand transparency and reform, and take more responsibility than ever before with time, energy, and dollars. I’ll write more in the future about revenue ideas; meanwhile, please feel free to contact me with ideas. 

Hampshire was born to work on the hardest problems and will die if it does not.

Jonathon Podolsky is a Hampshire alum, journalist member of the Education Writers Association, and a Boardsource Certified Nonprofit Board Consultant. More at www.Podolsky.cc