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COLUMBIA, S.C. (AP) — A historic Christian university in South Carolina, established 180 years ago, will cease operations at the conclusion of the semester due to its inability to secure $6 million required for its continued operation.
Officials from Limestone University revealed that despite intensive fundraising efforts over two weeks, where slightly over $2 million was raised, they had no alternative but to shut down both their Gaffney campus and online programs.
In the past decade, the university has faced a substantial decline, losing nearly 50% of its student body.
Randall Richardson, the chair of the university’s trustees, expressed, “Our Limestone spirit will endure through the lives of our students and alumni who carry it forward into the world. Though our doors may close, the impact of Limestone University will live on.”
The announcement of the closure came as a shock to students, alumni, and the local community when it was disclosed earlier in April that the institution’s financial state had deteriorated to an extent that immediate funding was necessary for survival.
Over 200 donors contributed approximately $2.1 million, but this amount fell short of the required funding. The donations made will be refunded.
State legislators in South Carolina opted not to intervene due to the private nature of the university.
Nationally, private colleges like Limestone are closing at an alarming rate of around two per month, as reported by the State Higher Education Executive Officers Association.
The trend of closures is exacerbated by a significant downturn in enrollment numbers, stemming from shifts in demographics and the impact of the pandemic.
The closure leaves many students in a state of uncertainty, with chances that some may not return to educational pursuits. Limestone University has pledged to assist all students in transferring to alternative institutions.
Once boasting approximately 3,200 students in 2014, the university’s enrollment has dwindled to around 1,600 over the past ten years, based on data from state higher education authorities.
The ramifications of the closure extend beyond students, leaving hundreds of faculty and support staff in Gaffney— a small city with around 12,500 residents located along Interstate 85— facing unemployment.
A gathering of about 50 students took place outside the venue where trustees convened, sharing embraces upon receiving the email regarding the university’s impending closure.
Daniel Deneen Jr., a football player from Myrtle Beach, expressed his dismay at the sudden upheaval in his academic plans, stating, “When we found out the school had $30 million in debt, we all wondered how they were going to get out of it. The last two weeks have been very stressful with finals coming up this week.”
Having been established in 1845, Limestone University will hold its final commencement ceremony this Saturday.
Limestone is not alone in announcing its closure this month; St. Andrews University, located approximately 150 miles away in Laurinburg, North Carolina, is set to close after the spring semester as well. It operates as a branch of Webber International University.
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