Anna Maria College will sell its nursing program to Assumption University for $1.1 million next month, according to bankruptcy court filings. The Massachusetts college, which closed this year after its spring term, requested court approval for the private sale to proceed without competition by Sept. 30.
The sale includes all curricular materials, records, and documents tied to the program. Court documents cite an urgent need to transfer its 45 seats to Assumption so students can continue their studies this fall. Attorneys argued the situation warranted skipping an auction or additional bids, steps typically required in bankruptcy asset sales.
Assumption, a nearby Catholic university, had announced plans in May to take over the program. The Massachusetts Board of Registration in Nursing approved the transfer earlier this year. Assumption President Greg Weiner stated the university was ready to support Anna Maria nursing students and help them finish their degrees with stability.
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Financial struggles at Anna Maria developed over time. The college, founded in 1949 by the Sisters of Saint Anne, saw net tuition and fee revenue decline from $19.2 million in fiscal 2021 to $14.3 million in fiscal 2025. Enrollment dropped 18% during that period, leaving 1,520 students. The loss of federal pandemic emergency funds added to the pressure.
In June 2025, an auditor raised concerns about the college’s financial future, prompting regulatory review. The Massachusetts Department of Higher Education flagged it as a potential closure risk in April. Despite a 7.5% enrollment increase for the spring term and $5.3 million in new donations, the board determined the crisis was too severe to overcome.
Students said they were surprised by the closure. Faculty, however, had voiced concerns about financial decisions for some time.
Anna Maria’s bankruptcy filing lists $17.7 million in secured debt and $5.5 million in unsecured liabilities consisting of overpayments owed. The college is also looking to sell its real estate while in bankruptcy, which it hopes will cover its secured debt.
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Assumption has already expanded its social work programs to accommodate Anna Maria students and faculty in that field.
The nursing program sale proceeds as Anna Maria’s bankruptcy case continues. Its closure reflects broader financial challenges facing small private institutions. Similar closures have disrupted students, though the arrangement with Assumption provides a smoother transition for those affected.
Anna Maria’s attorneys have urged the court to approve the sale quickly. If granted, the transfer would let nursing students resume their studies without delay.
