Without finding an incredible $6 million for emergency finances, a South Carolina liberal arts university with over two centuries of history may start the process of closing by the end of April.
Originally called Limestone College, Limestone University is a private Christian liberal arts institution located in Gaffney. It was established in 1845 as one of the nation’s earliest women’s institutions.
Before the semester finishes on April 22, it may now transition to online-only instruction or close completely.
Announcing the emergency, the Limestone University Board of Trustees posted an urgent note on its website this week, pointing to structural issues that liberal arts colleges disproportionately face, including declining enrollment across the country and growing expenses.
“The Board’s priority is to preserve the Limestone mission of education and service on our campus in addition to online. But without this financial lifeline, we will have no choice but to move all operations online, which means closing our physical campus,” Randall Richardson, chair of the Limestone University Board of Trustees stated.
The news announcement stated that the $6 million the board suggested was required would assist pay for resources to develop long-term solutions and operational expenses.
ProPublica reports that the institution had a particularly severe setback in the fiscal year 2022–2023, operating at a deficit of $12.6 million, more than $10 million more than in the preceding cycles.
“The psychological and emotional toll will be equally profound. Limestone has been a point of pride, tradition, and inspiration for our residents. It has opened doors for countless local students and families. Many of them were first-generation college students and helped shape dreams into realities. As a proud alumni, I will forever love and honor Limestone University,” Gaffney Mayor Lyman Dawkins stated on Facebook.
University employees were among those who were caught off guard by the trustees’ statement.
“I’m just a bit scared. We don’t really know like the next steps of what’s gonna happen or fully what’s going on but we just have to take it one step at a time and figure out what we’re gonna do for ourselves and how we’re gonna say goodbye to each other if we have to,” sophomore Annabelle Dougherty stated.
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Some are even requesting donations on social media, with numerous pupils sharing videos on TikTok and requesting assistance from influencers like Mr. Beast.
A “reverse college fair” will be held on April 25 at Limestone University, which has already contacted the NCAA, to allow existing students to visit other campuses.
