The Albright College Board of Trustees has authorized a loan of up to $15 million from the school’s $65 million endowment to fund major capital projects, including the renovation and expansion of the campus library.
College officials said the loan will be drawn as needed and comes with defined repayment terms, scheduled payments, and quarterly reporting for accountability. The decision follows what the Board described as a financial turnaround. Just over a year ago, Albright was facing a significant operating deficit, but the college now projects a $10 million surplus for the 2025–2026 fiscal year under President Debra M. Townsley, Ph.D.
The centerpiece of the investment will be the creation of the Joyce Family Foundation Learning Commons. The project will transform the library into a facility that includes a Student Support and Disability Center, a Writing and Tutoring Center, expanded cultural and technology resources, new conference space, and a campus café. Renovations are already underway, with completion expected in spring 2026.
Additional funding will address deferred maintenance and other improvements aimed at supporting student life and enrollment growth.
The Board noted that the loan is being made in compliance with court requirements governing the endowment and emphasized that the decision was not taken lightly. “This step represents a strategic use of the endowment to strengthen the College, enhance enrollment, and secure Albright’s future,” the statement read.
The project is supported by a $4 million state Redevelopment Capital Assistance Program grant and contributions from donors, including a major gift from alumnus Jeff Joyce ’83, Cindy Joyce, and the Joyce Family Foundation.
Albright officials said the move is part of a broader transformation at the college, with enrollment on the rise and operating stability restored.
