Seattle University has announced intentions to acquire Cornish College of the Arts, a smaller educational institution located in Washington. According to the proposed agreement, Cornish would remain on its current campus and be rebranded as “Cornish College of the Arts at Seattle University.” Both institutions have signed a letter of intent and are currently negotiating the specifics of the acquisition, which will require approval from various regulatory bodies and accrediting organizations.
Timeline of the Acquisition Process
The acquisition process is projected to commence in May 2025, with an anticipated completion date of May 2026. Seattle University views the merger as an opportunity to enhance educational offerings for students at both institutions, with potential interdisciplinary programs that could integrate areas such as computer science, business, and fine arts.
Current Student Enrollment Statistics
Cornish College of the Arts currently serves approximately 443 students, reflecting a decline in enrollment compared to previous years, while Seattle University reports a larger student body of about 7,121. Financially, Cornish has faced significant operating deficits, in contrast to Seattle University, which, while experiencing a deficit, has a more substantial revenue base.
Goals of the Proposed Merger
The proposed merger aims to strengthen the educational resources available to arts students and comes in the context of ongoing challenges facing private arts colleges. The institutions are preparing to conduct a thorough evaluation of Cornish’s financial health and operational structures as they advance in the acquisition process.
(Source: Higher Ed Dive)