This has never been done before!
Delaware State University (DSU) makes history as the first HBCU to own another university with the acquisition of Wesley College, Black Enterprise reports.
The public college finalized the acquisition of private university Wesley College in a first-of-its-kind merger this week. DSU purchased Wesley College and will now house the 50-acre campus located in Dover, Delaware, as an extension of its main campus. It is set to be renamed the Wesley College of Health & Behavioral Sciences within Delaware State. In addition to the campus, Delaware State will also acquire capital assets worth nearly $32 million and 14 new academic programs, including an occupational therapy master’s program.
The new campus will offer various programs, including degrees in allied/public health, kinesiology, nursing, occupational therapy, psychology, and social work. Wesley College also had a majority Black population, with about 39% of undergraduate students identifying as Black. As it stands, 77% of Wesley students have re-enrolled and are set to continue their education at DSU.
While DSU did purchase the college, no money was exchanged in the sale; instead, DSU will assume all of Wesley’s liabilities and accept all Wesley students in good standing. However, Delaware State will not be honoring any Wesley scholarships. The average cost difference between the two schools is about $200,000, DSU’s tuition rate maxing out at $16,960 for out-of-state students, while Wesley’s former undergraduate tuition rate was listed at $26,934 last year.
DSU President, Tony Allen, acknowledged the historic nature of the acquisition, saying, “This is a historic moment. In our view, that point is noteworthy, but it is not the reason this is such an attractive opportunity. To serve more students who need our brand of excellence, education, and care, we needed to increase the size of our footprint, build on our key academic programs, grow our research base and enhance our economic impact on the State of Delaware.”
Last year, DSU canceled over $700,000 in student loan debt to graduates impacted by the coronavirus. This next step is an extension of their commitment to their students, their legacy, and the state of Delaware.
“We could not be any more pleased about adding the incredible Wesley brand legacy, so many continuing students, and dozens of dedicated employees to our own family,” Allen added.
Congratulations, Del State!
Photo Courtesy of Delaware State University
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