In a letter to the Tisch Asia community dated 8 November 2012, Dean Mary Schmidt Campbell announced that the campus would close after 2014 with recruitment and admission of new students suspended with immediate effect. While celebrating the creative and academic achievements at the Singapore campus, she cited financial challenges as the reason for the closure decision. Schmidt-Campbell pledged that NYU would honour commitments to existing students and staff. The letter quoted support from Singapore's Economic Development Board stating that it remained open to future collaboration with NYU.