Limestone University, an institution with a rich history of nearly 180 years, is set to close next week amid unresolvable financial difficulties. President Nathan Copeland expressed deep sorrow in a statement highlighting the university community's efforts to save it. Despite attempts to transition to an online model with support from nearly 200 donors, they couldn't secure the necessary funds, leading to the decision to close. The university has seen a substantial decline in enrollment and has operated with significant budget deficits in recent years, which contributed to the closure decision and the loss of 478 jobs.
Limestone University, after nearly 180 years of history, will cease operations due to financial struggles, closing next week despite efforts to secure funding.
President Nathan Copeland expressed deep sorrow over the closure, highlighting the tireless efforts of the university community to save the institution.
Enrollment has drastically decreased from over 3,200 students in 2014 to around 1,600, contributing to persistent financial struggles.
The university's board faced significant doubt regarding its operational sustainability following negative financial audits and substantial budget deficits.
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