Overview
- The Board of Trustees voted Nov. 3 to shutter the 66-year-old Palos Heights, Illinois, college, with the final commencement set for May 8, 2026.
- Teach-out and transfer agreements with Calvin University, Olivet Nazarene University and Saint Xavier University aim to keep students on track to graduate at comparable cost.
- Acting President Jeanine Mozie and Board Chair Ken Dryfhout said leaders evaluated multiple alternatives before concluding closure was the only option.
- Financial records show operating losses in eight of the past 10 fiscal years, a small endowment of about $11 million, shrinking cash reserves and heavy reliance on a few donors, with bondholders warning of covenant risk.
- The institution will provide advising and career resources for students, faculty and staff, and plans to sell campus property to satisfy debt obligations.