Facing growing debt and plummeting enrollment, Upsala College trustees are closing the 102-year-old liberal arts school, the college announced Thursday.
Unless a benefactor steps forward, the private school will cease operating when its accreditation expires on May 31, President Paul V. DeLomba said in a statement.
Students learned of Upsala’s money problems last July, when college officials sought an advance in state aid.
As a result, many transferred or dropped out. Only 435 students are enrolled now, down from nearly 1,500 last year.