Bowdoin College, located in Brunswick, Maine, made headlines recently when it rejected the boycott, divestment, and sanctions (BDS) movement against Israel, asserting its commitment to maintaining sound financial practices. This decision, made by the Board of Trustees on March 3, 2025, came after careful consideration of recommendations from the Ad Hoc Committee on Investments and Responsibility (ACIR) established by President Safa Zaki.
According to the ACIR report ratified by trustees, "The endowment exists solely to provide financial support of the college across generations... It should not be used as a tool for the advocacy of public policy." This highlights Bowdoin's stance of keeping its endowment, which is viewed as fundamental to its educational mission, insulated from political pressures and external influences.
The board’s decision was influenced by previous student actions, including a May 2024 referendum where students called for the college to divest from companies supporting Israel, citing concerns of “scholasticide.” The referendum passed with 66 percent approval, but Zaki, maintaining her administration's practice, refused to issue any political statements and referred the matter to the board.
To address the growing demand for divestment and related issues, Zaki created ACIR to study broader investment concerns. The committee determined there were no explicit donor instructions requiring investments to advance social or political causes. They noted, "Interventions rooted in moral or political perspectives should be exceedingly rare and should only occur where there's near-universal consensus among stakeholders."
While Bowdoin seeks to preserve its fiduciary responsibilities, this decision is not unique. Other institutions have also turned away from divestment. For example, Boston University recently cited similar financial obligations when addressing BDS, as did Trinity College and the University of Minnesota, which highlighted concerns over campus polarization.
Meanwhile, Dartmouth College is also grappling with pressure to divest from companies tied to Israeli practices. On February 27, 2025, the group Dartmouth Divest for Palestine (DD4P) held protests demanding the college divest from such companies. Approximately 60 activists, including students, faculty, and community members, rallied at key locations to draw attention to their 55-page divestment proposal submitted to the Board of Trustees.
Protest organizer Roan Wade, reflecting the sentiments of the crowd, stated, "We wanted to make sure [the Board of Trustees] knows we are not okay with [the administration’s negotiation] tactics... and will not be silent until we get divestment." This sentiment echoed throughout the protest, where demonstrators chanted slogans advocating for accountability.
During the protest, they heard messages from Omar Rashid, an incoming freshman currently trapped in Gaza. His heartfelt words expressed the struggles faced due to the prolonged conflict: "I feel the weight of not only losing my life but also the dream I have come so close to achieving." Such personal grievances underline the urgency many students feel about the conflict's impact on their community.
Dartmouth's divestment proposals are evaluated by the Advisory Committee on Investor Responsibility (ACIR), reflecting the need for proposed actions to align with institutional consensus. College spokesperson Jana Barnello noted, "Decisions about our investments must not curtail debate or silence diverse perspectives," emphasizing the importance of allowing all viewpoints to be articulated and respected.
This duality of diverging responses at Bowdoin and Dartmouth signifies broader tensions within academic circles over divestment questions. Past movements to divest, such as those related to South African apartheid, have left their marks on college campuses. Activists are channeling this historical precedent to incite change now.
David Kollisch, retired from Dartmouth's Geisel School of Medicine, noted, "Money is ... one of the important levers we have to stop conflict," indicating academic and activist beliefs about the power of financial decisions on sociopolitical change.
The juxtaposition between Bowdoin's firm rejection of BDS and Dartmouth's heated protests encapsulates the complex struggle over academic investment policies. Within this debate lies the potential for other academic institutions to re-evaluate their financial strategies amid societal pressures.
Both colleges are now at crossroads, wrestling with their historical responsibilities and contemporary ideological currents. Their responses will likely have lasting ramifications on their communities and how they manage the intersection of finance, social issues, and education moving forward. By engaging openly with these sensitive topics, these institutions aim to navigate challenges posed by both fundraising and free speech on campus.