Hampshire College in Amherst will sell its 800-acre campus to pay off about $25 million in debt after the institution announced plans to close. President Jennifer Chrisler told the community that the campus would “need to become something different” for the college to meet financial obligations, framing the sale as the next step in winding down. The debt was reportedly incurred through loans and a private partner arrangement in 2010 and 2016. The announcement follows efforts to increase enrollment and refinance debt that the institution said were not enough to restore viability. The case adds to the pressure on small residential colleges facing enrollment constraints and balance-sheet stress, where asset liquidation becomes the last remaining lever to address liabilities.