Cambridge College Plans to Acquire the New England College of Business and Finance
Added programs will expand Cambridge College’s online degree options for adult learners
(BOSTON, Mass.) March 5, 2020— Cambridge College today announced the planned acquisition of the New England College of Business and Finance (NECB), which will integrate NECB’s programs into Cambridge College’s operations beginning Spring 2020. This transaction is subject to final regulatory and accreditation approvals by the Massachusetts Department of Higher Education and the New England Commission of Higher Education.
“From its earliest days, Cambridge College has strived to unlock valuable educational opportunities for as many people as possible, keeping quality high and tuition costs low,” said Susan Ifill, Chairwoman of the Cambridge College board. “The Cambridge College community looks forward to leveraging the unlimited potential and opportunities that this acquisition will bring to our student communities.”
The acquisition would enhance Cambridge College’s position in the growing trend in higher education of providing high-quality, online education for working adults. Cambridge College is a private non-profit institution, which offers flexible, undergraduate and graduate degree programs across five locations nationwide to a highly diverse student population, most of whom pursue degrees part-time.
“Today’s adult learners require multiple modalities to access the credentials that will enhance their professional growth and career potential,” said Cambridge College President Deborah Jackson. “NECB’s combination of affordability, innovation, and business integration are the very attributes we value at Cambridge College for our student community of working adults.”
Under the umbrella of the newly created New England Institute of Business and Finance (NEIB) at Cambridge College, the acquisition gives Cambridge College the ability to add 27 online Associate’s, Bachelor’s, Master’s, Doctoral, and certificate programs to the College’s suite of digital learning options.
“NECB has been well ahead of the curve in delivering an exceptional online learning experience and we are thrilled that our degree programs will continue to be offered through an educational pioneer institution like Cambridge College,” said NECB President Howard Horton, who has agreed to serve as the first Executive Director of the New England Institute of Business and Finance at Cambridge College. “With the exceptional record that Cambridge College has built for close to 50 years, and its sound commitment to advancing a diverse body of adult student learners, this affiliation will enable NECB to expand its reach to a broader universe and to have expanded resources with which to do so.”
Upon the completion of the acquisition, NECB’s 1,500 students will be invited to continue their online education through Cambridge College, and NECB faculty and staff will be invited to join Cambridge College. Both institutions are fully committed to ensuring that this is as seamless a transition as possible for all NECB students, faculty, and staff.
“This is a sage investment by both institutions and one that will continue to protect and promote the best interest of students,” said former Massachusetts Attorney General Scott Harshbarger, Chair of the NECB Board. “It is gratifying to see NECB make its way back to its not-for-profit roots through this alliance with Cambridge College.”
NECB was an early adopter of online academic programming and currently stands as the only fully online institution in Massachusetts, one that is highly ranked and nationally recognized. Its students are employees from 300 corporate partners, many of which pay directly for their employees’ tuition. The New England Institute of Business and Finance at Cambridge College will proudly continue NECB’s 111-year history of tight integration into industry verticals throughout the region of melding corporate training with traditional degree programs, a paradigm in which NECB is a leader.
“This is truly a win-win, for the students of both Cambridge College and NECB as well as for the higher education landscape in Massachusetts,” said Richard Doherty, President of the Association of Independent Colleges and Universities in Massachusetts (AICUM). “This acquisition is a great example of one of AICUM’s 57 not-for-profit colleges living out its charitable mission to serve students in a modern and market-responsive way.”
About Cambridge College
Cambridge College provides academically excellent, time-efficient, and cost-effective higher education for a diverse population of adult learners for whom these opportunities may have been limited or denied. The College offers flexible undergraduate and graduate degree programs across five locations nationwide in Boston, Springfield and Lawrence, Mass., San Juan, Puerto Rico; and Inland Empire, Cal. Founded in 1971, Cambridge College is accredited by the New England Commission of Higher Education (NECHE), formerly the Commission on Institutions of Higher Education of the New England Association of Schools and Colleges (NEASC).