Elon and Queens universities announced Tuesday plans to merge with the goal of enhancing Elon’s presence in Charlotte while providing Queens with additional financial stability.
The universities said in a joint news release their planned merger is expected to be completed by summer 2026 with Elon operating Queens in partnership with existing and legacy leaders.
The universities did not disclose potential financial terms. They said information about community efforts, leadership structure and programming will be disclosed by early 2026.
According to media reports, there have been concerns about the long-term financial stability of Queens, citing a $6 million loss from operating activities in 2024, as well as declines in overall revenue and net tuition revenue.
A ProPublica analysis of a Queens Form 990 federal tax filing for fiscal 2022-23 found total revenues of $88.4 million and total expenses of $109 million.
“Both institutions are strengthened by this merger – a bold step taken in the face of the headwinds confronting higher education, and at the same time aligned with the key growth and opportunity emerging in Charlotte,” the universities said.
“The vision is clear: to create a stronger, more sustainable model of higher education in Charlotte that expands access, enhances opportunity, prepares a future-ready workforce and honors the storied legacies of both institutions.”
Mergers and acquisitions in higher education have become more common in recent years and this trend is likely to continue, said Zagros Madjd-Sadjadi, an economics professor at Winston-Salem State University.
“As federal resources become scarce, abnd the number of recent high school graduates declines due to demographic changes, scale, scope and network economies start to dominate,” Madjd-Sadjadi said,.
“Universities that realize this and reposition themselves accordingly will be the survivors in the coming educational shakeout.
“Both universities will likely see synergies as administrative positions are consolidated and students obtain access to the expanded curriculum that a larger institution can provide.”
Merger details
Elon has about 7,000 students with more than 70 undergraduate majors, along with professional and graduate programs in law, business, education and health care.
By comparison, Queens has about 2,000 students in undergraduate and master’s-level programs across the liberal arts and sciences, as well as the business, communication, nursing, health and education.
The universities touted Queens’ nearly 170-year history of academic and civic impact, as well as “long-standing relationships with Charlotte’s business, nonprofit and faith-based communities and a legacy as a champion for civic dialogue and service.”
“Queens has long been a leader in undergraduate and graduate education, deeply connected to Charlotte’s civic and business community and committed to shaping the region and nation through thought leadership,” said Jesse Cureton, acting president of Queens.
“This merger with Elon — a North Star for Queens for many years — accelerates that vision.
“It ensures continuity for our students and faculty while creating bold new opportunities to expand our impact and strengthen Charlotte’s role as a hub for higher education — because in today’s higher education environment, collaboration is not only smart, but essential.”
Meanwhile, the proposed merger would further expand Elon’s foothold in Charlotte beyond the September 2023 debut of its School of Law’s Flex Program for working professionals. The first class was enrolled in August 2024.
The Charlotte law school branch is in an Elon regional center in the South end of Charlotte that also offers Elon undergraduate students majoring and minoring in sport management the opportunity to study and work in Charlotte.
Elon said more than 3,000 alumni live and work in Charlotte.
“This merger with Queens unites two institutions deeply committed to student success,” Elon University president Connie Ledoux Book said.
“Together, we will expand relevant, high-impact programs that connect academic excellence with real-world opportunity in service to the Charlotte region.”
The universities tout their role in helping to meet growing demand in Charlotte for higher education, professional training, and workforce-ready graduates.
They cited as examples shortages of nurse practitioners, physician assistants and lawyers.
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.
“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,” the universities said.
Hugh McColl Jr., former chairman and CEO of Bank of America and a longtime civic leader in Charlotte, has a granddaughter enrolled in the Elon law program in Charlotte.
“By uniting their strengths, Elon and Queens are expanding opportunity, preserving legacy and making a bold investment in Charlotte’s future,” McColl said.
“This is the kind of forward-looking vision that ensures our city continues to thrive for generations to come.”
rcraver@wsjournal.com
336-727-7376
@rcraverWSJ
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