Campus Files: Episode Summary – "Higher Ed for Sale"

Release Date: June 25, 2025
Host: Margo Gray
Podcast: Campus Files by Audacy

Introduction

In the episode titled "Higher Ed for Sale," Campus Files delves into the tumultuous closure of Mills College, a storied women’s institution in Oakland, California. Host Margo Gray navigates the complex narrative of unexpected institutional collapse, personal upheaval for students, and broader implications for private higher education in America.

The Heartbreaking Closure of Mills College

[02:38]
"The email arrived out of the blue from the president of Mills College. The subject line 'Mills Transition.' It announced that the school was about to shut down."
— Margo Gray

Mills College, established in 1852 as the first women’s college west of the Rockies, faced an abrupt closure announcement in 2021. The news came without warning, leaving students and faculty blindsided.

Victoria Mayorga’s Journey

[03:03]
"My name is Victoria Ixchel Mayorga. I am 23 years old, born and raised in Yonkers, New York."
— Victoria Mayorga

Victoria Mayorga, a passionate history, culture, and law student at Mills, embodies the personal impact of the college’s shutdown. Raised in an immigrant family with a strong emphasis on education, Victoria had her sights set on Mills despite initial uncertainty.

Choosing Mills: A Dream Realized

[04:41]
"Mills is located in East Oakland, the Bay area, near San Francisco. I kind of describe it as like a green oasis in the urban city."
— Victoria Mayorga

Drawn to Mills’ intimate community of 500 undergraduates and its rich history of activism, Victoria thrived in an environment that prioritized individualized education and social justice.

The Sudden Shutdown

[08:40]
"I was by myself in my dorm, shocked and bewildered that my school was going to shut down. And I had no idea, no warning, nothing."
— Victoria Mayorga

The closure email cited economic strain from the COVID-19 pandemic, declining enrollment, and broader shifts in higher education as reasons. However, the lack of transparency intensified confusion and despair among the Mills community.

[10:48]
"Northeastern let go of 86 staff, and they immediately insisted upon the professors at Mills teaching the exact curriculum being taught in Boston to have uniformity."
— Margo Gray

Merger with Northeastern University: Hope or Hindrance?

[13:03]
"Mills College in Oakland just announced that they're going to be merging with Northeastern University in Boston to keep the campus open."
— Victoria Mayorga

In a last-ditch effort to save the institution, Mills announced a merger with Northeastern University. Initially perceived as a lifeline, the merger promised to uphold Mills' values of access and social justice.

[14:19]
"I just knew it would be a business venture, a business acquisition, and not an educational merger."
— Victoria Mayorga

Students like Victoria quickly grew skeptical. Northeastern’s focus on STEM and a co-ed environment starkly contrasted with Mills’ liberal arts and women-centric ethos.

Financial Mismanagement Exposed

[24:01]
"The narrative that Mills couldn't survive has its skeptics."
— Margo Gray

Enter Matthew Hendricks, founder of Perspective Data Science, who uncovered significant financial mismanagement at Mills. Contrary to the administration’s claims, Mills possessed a substantial endowment of $224 million, which was not fully accounted for in operating income statements.

[26:24]
"I think they added some essays to their Common App requirement. Big mistake. You can crater your applications by just making small changes to your application or your application fees."
— Matthew Hendricks

Hendricks highlighted overspending in non-instructional areas and questionable financial decisions that exacerbated Mills' financial strain, leading to the eventual merger.

The Aftermath: Losing Mills’ Identity

[30:31]
"We didn't sign up for this."
— Victoria Mayorga

Post-merger, Mills’ unique culture and educational philosophy were overshadowed by Northeastern’s institutional practices. Victoria observed dramatic changes, including altered graduation ceremonies and a loss of specialized programs, leading her to transfer to Northeastern’s Boston campus.

[32:25]
"Even though Northeastern killed Mills, they couldn't kill me."
— Victoria Mayorga

Determined to honor her education at Mills, Victoria fights to have her diploma reflect her alma mater, symbolizing resistance against the erasure of Mills’ legacy.

Conclusion: Broader Implications for Higher Education

[29:53]
"Sadly, it seems like there's a lot of guessing going on in higher ed and sometimes guessing wrong, which can be catastrophic."
— Matthew Hendricks

The collapse of Mills College serves as a cautionary tale about the vulnerabilities of small private institutions amid financial mismanagement and evolving educational landscapes. It underscores the need for transparency and strategic planning to preserve the integrity and mission of higher education establishments.

Final Thoughts

Margo Gray wraps up the episode by emphasizing the profound personal and institutional impacts of Mills College’s shutdown. The story of Victoria Mayorga and the investigative insights from Matthew Hendricks paint a vivid picture of the challenges facing private universities today.

[32:52]
"I am owed this damn degree at this point from this school, and I owe it to myself after going through so much."
— Victoria Mayorga

Credits and Acknowledgments
Campus Files credits Margo Gray as the writer and reporter, with production by Ian Mont Eliot Adler and Margo Gray. The episode includes contributions from executive producers Maddie Sprunkiser and Lloyd Lockridge, and special thanks to various supporters and contributors.

For more stories on higher education scandals, check out Seasons 1-3 of "Gangster Capitalism" in the same feed.
Campus Files is an Audacy original podcast.