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Elon College
Elon College is seeking to increase its footprint into booming Charlotte, North Carolina, by way of a merger with a university with an extended historical past there.
The North Carolina non-public establishment plans to mix with Queens College of Charlotte, which was
“This partnership shouldn’t be pushed by disaster, however by alternative: to create a stronger educational ecosystem and workforce pipeline in Charlotte, backed by the financial power of the merged establishment,” based on a
The deal is predicted to conclude in the summertime of 2026, and at the moment Elon will function Queens.
Elon, with about 7,300 undergraduate and graduate college students, is 110 miles northeast of Charlotte in its namesake city of 11,000. Within the fall of 2024, Queens had almost 1,600 college students
Elon had an
Queens has an endowment of about $162 million as of June 30, 2024, based on a securities submitting. The varsity was downgraded to BBB-minus, one step above junk, from BBB earlier this 12 months by S&P World Scores, which cited Queens’ “continued enrollment and demand challenges.”
Queens has about $95 million of municipal bonds excellent, based on information compiled by Bloomberg.
The inhabitants of the Charlotte metro space is projected to develop 21% between 2020 and 2034, fueling demand for increased training {and professional} coaching, based on a Tuesday
“This merger can be a win for each universities and, extra importantly, for Charlotte,” stated former Financial institution of America Corp. Chief Government Officer Hugh McColl
Jr., who has served as a member of Queens’ board of trustees for almost 20 years. “This can be a great reward for town.”
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