Limestone University to Close After 180 Years Amid Financial Crisis

Watan-A 180-year-old private Christian university in South Carolina is set to close at the end of the semester after failing to raise $6 million needed to continue operations.

Officials from Limestone University announced that, despite two weeks of an urgent fundraising campaign and other measures, they were only able to collect just over $2 million. With no other options, the university will close its main campus in Gaffney and its online programs.

The university has reportedly lost nearly half of its student population over the past decade.

Randall Richardson, Chairman of the Board of Trustees at Limestone University, said:”The spirit of Limestone will live on through the lives of our students and alumni who carry it with them into the world. Although our doors may close, the impact of Limestone University will remain alive.”

Students, alumni, and the local community were stunned when the university announced earlier in April—without prior warning—that it was in severe financial trouble. It stated that without immediate funding of $6 million, it would be forced to shut down.

According to the Association of Governing Boards of Universities and Colleges, private colleges like Limestone are closing at a rate of nearly two institutions per month.

The number of colleges shutting down across the United States has been increasing due to sharp declines in enrollment, driven by demographic shifts and the long-term effects of the COVID-19 pandemic.