Naropa University, a unique institution founded in 1974 by Buddhists, is facing financial challenges that have led to the decision to sell its main campus in Boulder, Colo. The university has struggled with financial issues for much of the last decade, exacerbated by the effects of the COVID-19 pandemic and rising operating costs. Despite these challenges, Naropa has seen an increase in enrollment due to a strong push into online education, with new programs such as psychedelic-assisted therapy being added.
The decision to sell the main campus comes as Naropa plans to move operations to a smaller location three miles away. With almost half of its students now studying online or in a hybrid format, administrators believe that the sale of the campus will help fund new growth initiatives that will secure the university’s future. However, many graduates are mourning the loss of the beloved site, which holds deep meaning for both graduates and the local community.
Naropa president Charles Lief has emphasized that the sale of the campus is not a desperate measure but rather an investment in the future of the institution. He acknowledges the financial struggles that Naropa has faced in recent years but sees the move as an opportunity to invest in new programming, faculty, and students. The sale of the campus is expected to generate funds over the next few years, allowing Naropa to expand and thrive in the future.
While some alumni have expressed shock and disappointment at the decision to sell the campus, others see the potential for growth and expansion through online education. The move to online learning has allowed Naropa to reach a wider audience and increase enrollment numbers. However, there are concerns about losing the spiritual lineage and sacred spaces that the current campus holds, such as the Allen Ginsberg Library and the Performing Arts Center.
Selling off assets is a common strategy for financially distressed colleges, but Naropa’s decision to sell its main campus while remaining open is unusual. The move has been met with mixed reactions, with some experts praising the strategy as a smart move for the university’s financial future. While there are concerns about cash flow and the ability to remain open, Naropa’s leadership believes that the timing is right for the sale and the transition to a new campus.
Overall, Naropa University is at a crossroads of financial challenges and new opportunities for growth. By embracing online education and launching new programs, the university aims to attract more students and secure its future. While the decision to sell the main campus may be difficult for some, Naropa’s leadership is confident that the move will lead to a bright future for the institution.