During the 2002-03 fiscal crisis in Massachusetts, Gov. Mitt Romney proposed sweeping changes for public colleges in the state. Among them was a proposal to privatize three highly specialized colleges, including the Massachusetts College of Art and Design (MassArt), the nation's only independent public college of art and design. The rationale was that the college could not only survive, but also "soar" with an independent status. But when trustees and administrators examined Romney's proposal closely, they found that the governor's plan was not economically feasible for a small, specialized college with a tiny endowment (about $2 million at that time) and a large campus with $15 million in deferred maintenance. Given the current and future importance of creative industries to the region's economy, the trustees remained committed to MassArt's mission to provide access to a strong professional education in the visual arts for all students of talent, regardless of economic or ethnic backgrounds. In this article, the author, president of the Massachusetts College of Art and Design, reports on five years as a hybrid public college living with reduced state appropriations but increased autonomy. She discusses how the initial five-year period (2003-2008) of the New Partnership between MassArt and the state reveals a record of success.