Green Mountain College administrators say they have begun layoffs as the college prepares to close after the end of the spring semester.
President Bob Allen says they are projected to have an operating deficit of $5 million this year.
The Times Argus reports officials say they are willing to work with anyone who wants to save the college. Allen says he tried partnering with another institution, but that was unsuccessful. Provost Tom Maus-Pugh says officials considered transitioning to an online model, but they couldn't find a solution that would cover expenses.
The U.S. Department of Agriculture is expected to take over the college by June 30.
Allen says Prescott College in Arizona has offered to take in students, as have other universities.
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