The announcement of the merger between two North Carolina private colleges, Elon University and Queens University of Charlotte, both of which possess a long and storied presence in the Old North State, has sent shockwaves through the higher education community over recent weeks.
As other independent colleges in the region have faced accreditation battles and financial struggles, could this historic move be a blueprint for those eager to keep more doors from closing?
While it’s set to take effect ahead of the 2026 school year, some specifics of this particular merger remain unclear for both university leaders and interested parties. A website dedicated to sharing news about the merger includes a Q&A section that promises more information in the coming months as the institutions gather input from stakeholders and the broader community.
“Representatives from both universities will launch a citywide listening tour this fall to hear directly from students, faculty and staff, alumni and local civic leaders,” an Elon press release read.
“The input from these sessions will inform ongoing decisions and help shape a shared future grounded in Charlotte’s unique needs and aspirations as a vibrant city where education, equity and economic opportunity go hand in hand.”
Beyond the present uncertainty, the site also acknowledges the potentially influential long-term effects of the merger, calling the decision “a model for the future of higher education.”
University mergers and acquisitions aren’t particularly new — some date back as far as the late 1800s — but new challenges have spurred an increase in the trend. Higher education research site BestColleges.com recently found that 39 U.S. schools have announced mergers and 45 have closed or plan to close their doors since the COVID-19 pandemic.
Scott Novak, a founding partner at the Small Colleges Consulting agency, told Carolina Public Press the higher ed landscape has changed significantly in the last five years, particularly with what sorts of things prospective students want out of their experience. That means most small colleges need to reassess how they operate, he said.
Increasing interest in online degree programs is less than ideal for small colleges that tend to have a traditional brick-and-mortar approach and lean into the small college “feel” they offer on-campus students. Among those who are seeking an on-campus environment, social media often drives a desire for a large state school experience with competitive athletic teams, a sizable student body and an abundance of resources. Small colleges are finding it hard to keep up, Novak said.
North Carolina is no stranger to the pressure facing independent colleges. St. Andrews University in Laurinburg announced in April that its doors would close just 10 days later, citing financial difficulties. St. Andrews had a history of mergers itself. When the university lost its accreditation due to financial strain in 2007, it merged with Webber International University, based in Florida, in 2011. While that kept St. Andrews afloat for a few more years, it proved to be unsustainable.
Raleigh-based HBCU Saint Augustine’s University had been on the brink of losing its accreditation for several years after the Southern Association of Colleges and Schools Commission on Colleges voted to terminate its accredited status in 2023. Losing accreditation doesn’t formally result in closure, but it can often be the nail in the coffin for already-struggling institutions.
After several appeals and a lawsuit against the SACSCOC, a preliminary court injunction issued in August restored the university’s accreditation once more, though it still faces challenges like debt and low enrollment.
Limestone University in Gaffney, South Carolina, about 55 miles from Charlotte, also announced its closure this year after a sharp enrollment decline and garnering $30 million in debt.
When it comes to Elon and Queens, Novak said it’s a smart decision for both parties. As someone who is familiar with college mergers and acquisitions, some of which aren’t always good moves, this one doesn’t raise eyebrows for him.
“This makes a ton of sense,” Novak said. “There’s mergers that have happened in higher ed that I sometimes question. This one makes all the sense in the world.”
With Elon’s shining reputation as a powerhouse in higher education and a history of smart financial decisions and Queens’ prime location and standout academic programs such as its business school, Novak said the merger creates a dynamic duo.
“This is an opportunity for both to do what they’re looking to do — for Queens to expand their academic programs, make the student experience better, leverage the resources of Elon and their know-how, and at the same time for Elon to expand into Charlotte,” he said.
“It’s a good move for both. This isn’t always the case, though. There have been mergers in higher ed of late where it is a ‘This is our last ditch effort to survive,’ and I don’t believe that’s the case here.”
Even so, the merger has spurred speculation of distress at one or both of the universities. ProPublica data shows that Queens’ expenses have consistently outweighed its revenue from the years 2020 through 2023, the most recent data available. At Elon, the latest freshman enrollment fell by 11.6%. But the universities and education leaders across the state have maintained that this merger is a sign of life, not decay.
Due to Queens’ finances there has been speculation that Elon has the upper hand in the deal. Novak said while Elon might be in the better financial position, Queens offers an invaluable position in the Charlotte market — which Elon has shown interest in and recently broken into with the opening of its part-time law school program just last year.
“When you merge like this, sure one institution is going to be the one that maybe has more of the decision-making abilities based on where they are and they’ve grown and what their plans are for the future,” he said.
“So probably, yeah, I would say that Elon probably has a little bit of an upper hand. But I also know Elon is very smart, and they are not going to jeopardize the growth of Queens in the Charlotte market unless they have data and the right research done to support their decisions.”
President of the North Carolina Association of Independent Colleges and Universities Hope Williams said the merger is brilliant, particularly because the universities feel equally yoked.
Finding that perfect partnership will be the key if other institutions are looking to follow Elon and Queens’ lead, which could be difficult to do. So while Williams and others feel confident this merger will be a success, she doesn’t necessarily expect to see the same elsewhere.
“If there are (other mergers), then I think that the due diligence that Elon and Queens obviously did would be extremely important to do — to be able to determine what each is bringing to the merger and how the combination will make them both stronger,” she said.
“That’s exactly the case with Elon and Queens. Certainly we’ve seen mergers take place in other states among public and private colleges and universities, and sometimes they work and sometimes they don’t, just like mergers in the private for-profit sector. So I think it has to be the right combination, and I think we’re very fortunate.”
It’s the abundance of positives that Elon and Queens each bring to the table that makes this merger so great — but it’s also why we may not see more of them.
Williams sees few downsides in this case given how significantly each university is benefitting, though she foresees some apprehension among the broader university communities, as there would be for any other big change.
“In anything new that takes place, change is hard, so there will certainly be, I’m sure, some anxiety among some faculty and staff, wondering how this is all going to work,” she said.
“Other than that — which is a natural thing in any organizational change, whether it’s a merger or just a change in leadership or any other kind of change that takes place in an organization — I am not aware of any negatives.”
Anxiety, there is. Elon’s chapter of the American Association for University Professors issued a statement Wednesday calling for transparency and faculty representation in decision-making. Alumni opposition groups sprung up quickly after the announcement, largely composed of alumni concerned to see the integrity of their alma maters compromised.
A “No Elon Merger” group purchased a full-page ad in The Pendulum, the weekly newspaper of Elon’s award-winning student newsroom, Elon News Network, that proclaimed the merger was “The Worst Idea in Elon’s History.” The Charlotte Observer reported “No Elon Merger” has between 20 and 30 members, and a similar group of Queens alumni has about 300.
Alex Nettles is a senior at Elon and an opinion columnist at The Pendulum. In his column on the merger, he questioned Elon’s voracious appetite for growth and expansion despite challenges like a looming enrollment cliff across higher education due to declining birth rates and Elon’s stagnant endowment.
“It’s pretty easy to see how this is bad timing,” Nettles wrote. “Universities face an enrollment cliff and dwindling populations. In response to this, we go out of our way to merge with a financially failing university over a hundred miles away from us.”
But while faculty and alumni are taking action on their concerns, Nettles said the general student body is largely in the dark about the details, though he views that as a sign of apathy rather than a lack of information.
“We should be asking more questions because it’s probably, I would say, close to one of the most monumental points ever (for Elon),” he told CPP.
It’s a difficult time for higher education all around, Nettles said. While the merger is undoubtedly innovative, he questions whether now is the right time for his own university, or others looking to follow suit, to take such a leap.
“When we are facing an enrollment cliff, rising anti-intellectualism and the threat of AI on higher education, the wise thing to do would be to focus on our endowment, as opposed to run against the current amidst college closures,” he said.
“It just felt like a jerk at the steering wheel.”
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Kate Denning is a Carolina Public Press intern whose reporting focuses on education issues. She is a 2025 graduate of North Carolina State University. Email [email protected] to contact her.