University of the Arts Announces Sudden Closure Due to Financial Crisis

Philadelphia institution to close on June 7, citing unanticipated expenses and declining enrollment.

Trustees and president express shock and apologize for abrupt announcement.
Students, faculty, and staff left scrambling to find new opportunities.
Town hall meetings scheduled to address community concerns and transfer options.
Local officials call for independent investigation into the school's financial collapse.
Accreditation revoked by Middle States Commission on Higher Education.