Delaware State University (DSU) finalized the acquisition of a private college Thursday in what the university says is the first case of an HBCU acquiring another higher education institution. DSU, a public HBCU, has purchased Wesley College and will take over the college’s 50-acre campus in Dover as well as capital assets worth about $32 million. DSU will also gain 14 new academic programs, including an occupational therapy master’s program. No money was exchanged in the sale. In lieu of a transfer of funds, DSU will take on Wesley’s liabilities and will accept all Wesley students in good standing. However, DSU will not honor Wesley scholarships. The average cost differential between the two schools is approximately $200,000. Wesley’s undergraduate tuition rate for last year was $26,934. DSU’s tuition rate was $7038 for in-state students and $16,960 for out-of-state students.
