BOSTON — Boston University and Wheelock College have finalized a merger.

Under the deal announced Wednesday, all Wheelock’s assets and liabilities will be transferred to BU next June.

The Boston Globe reports that under the merger, BU’s School of Education will join Wheelock’s School of Education, Child Life, and Family Studies and be renamed Boston University’s Wheelock College of Education & Human Development. Wheelock’s president, David Chard, will serve as interim dean.

Wheelock, a 130-year-old school specializing in teaching and social work, has faced declining enrollment, a shrinking endowment, and increasing expenses.

Wheelock has about 1,000 students. BU has about 33,000.

Chard said the merger is “our strongest option for preserving the mission of Wheelock College.”

BU President Robert Brown says the merger strengthens the university’s commitment to education.

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