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New York University’s Tisch School of the Arts has announced it is closing its branch campus in Singapore. Tisch's dean, Mary Schmidt Campbell, cited “significant financial challenges that have required increasingly unsustainable subsidies totaling millions of dollars per year.” Tisch projects that its total subsidy for the Tisch Asia campus, which opened in 2007, will exceed 30 million Singapore dollars, or about $24.4 million, by September 2013 -- “and will continue to grow.”

“It was never contemplated that Tisch would need to subsidize Tisch Asia to the extent it has,” Campbell wrote. “Neither the leadership at Tisch, the leadership at NYU, nor the Economic Development Board of Singapore would have approved Tisch Asia going forward had it been clear it would have come to the financial state at which it has now arrived, requiring such a large and ongoing level of subsidy.”

The plan is to close the graduate-level campus at some point over the next couple of years, and no earlier than summer of 2014. Tisch has pledged that all students currently enrolled will be able to finish their degrees, either in Singapore or at one of NYU’s other campuses or overseas academic centers.