[2020] fall semester, Wells simply will not receive enough revenue to continue operations." Additionally, with about 15% of Wells' operating revenue coming from the study abroad program in Florence, Italy, that it administered, COVID-19 travel restrictions cut off a portion of the college's revenue. The college, at the time, enrolled 414 students.
In June 2021, Wells' accreditation was reaffirmed by the MSCHE. A year later, an auditor's report said that on June 30, 2022, Wells College's endowment totaled a value of 28.8 million dollars. Its enrollment that school year was 342 students.
When upstate New York private colleges Cazenovia College and Medaille University both closed in 2023, Wells became a teach-out partner, accepting transfer students from the two institutions in an effort to allow them to complete their studies.
In April 2024, the college's president and board chair announced that the Wells would close at the end of the spring 2024 semester due to "financial challenges ... exacerbated by a global …
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