My college never closed for cold, because most people lived on campus. I was one of the minority few who was off campus, so we had class all the time, unless there was a blizzard or really bad icy conditions. When I was taking grad classes, though, if school closed early, we didn't have classes cause we were an off site campus. That worked out well!

In our school district, where I teach, we have 4 snow days allocated in our school year. Any more than 4 and we have to extend the school year. If we don't use them though, we don't get out earlier. Not fair in my eyes, lol. We do have late starts when it's below zero though, usually so that the little kids aren't standing out at bus stops for long periods of time.

By the way, it's freezing here in PA too, and is supposed to be worse tomorrow, only going up on Sunday for a snow storm!