FAMU announced this week a new academic partnership with Metropolitan College of New York (MCNY) — a small private college in Manhattan that is currently fighting to retain its accreditation amid mounting financial difficulties.
The collaboration comes as Metropolitan College of New York, or MCNY, faces a critical review by the Middle States Commission on Higher Education (MSCHE), one of the nation’s six regional accrediting agencies.
Ordered to show cause
On June 26, 2025, MSCHE took the rare step of requiring MCNY to “show cause” as to why its accreditation should not be withdrawn .
The Commission instructed MCNY to submit a detailed report by September 2 demonstrating that it has the financial resources, enrollment strategies, and regulatory compliance necessary to remain accredited. A site visit from Commission representatives is expected this month, with the final accreditation decision scheduled for November. For now, MCNY remains accredited while on “show cause” status.
Financial struggles and shrinking enrollment
Public filings paint a picture of a college in financial distress. MCNY has struggled to manage its debt load and failed to maintain the liquidity ratios required under its bond agreements, according to a July regulatory filing.
The college enrolled fewer than 500 students last year, state data show, down from 980 students in 2019, and reported a deficit of more than $7 million in fiscal year 2023.
In its June order, the Commission cited concerns about MCNY’s ability to sustain its operations and required the institution to document:
- Financial stability and a credible plan for future funding;
- Available enrollment management strategy aligned with the college’s broader institutional plan;
- Enrollment projections with clear assumptions; and
- Compliance with federal and state financial aid regulations.
Selling its campus to stay afloat
In a further sign of distress, MCNY signed a letter of intent in late August to sell its Manhattan campus to the City University of New York for $40 million, according to a regulatory filing reported by Bloomberg.
Proceeds from the sale would go toward paying down a portion of the college’s $67.4 million in outstanding debt. The sale agreement stems from a 2024 forbearance deal with bondholders, which required MCNY to pursue asset sales to reduce its liabilities.
The MCNY-FAMU partnership
MCNY's partnership with FAMU would establish a direct pathway for Bachelor of Business Administration (BBA) graduates to pursue a Master of Science in Supply Chain Management (MS-SCM) at FAMU.
MCNY primarily caters to adult students — with an average age of its students 33 years old — and offers associate, bachelor’s and master’s programs. Along with the Manhattan location, MCNY also has a campus in the Bronx. More than 85 percent of MCNY's students receive Pell Grants ---- casting doubt on how they would finance their out-of-state graduate tuition at FAMU.