A small Kentucky college says it’s closing due to declining enrollment and increasing debt from construction of academic and residential facilities.
St. Catharine College said Wednesday it will close at the end of July.
It has been embroiled in a dispute with the U.S. Department of Education over hundreds of thousands of dollars in student aid funds the agency had not reimbursed.
St. Catharine said in a lawsuit it was “at the brink of extinction” due to the dispute.
John Turner, chairman of the school’s Board of Trustees, said its debt was unmanageable due to smaller enrollment and the Department of Education’s “chokehold” on its cash flow.
The debt stems from construction of residence halls, a health-sciences building and a library on the campus in Washington County.
Its enrollment dropped from about 600 full-time students to fewer than 475.
Source: AP
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