Dive Brief:
- Clarks Summit University, in Pennsylvania, announced Monday it will close amid persistent financial challenges.
- In June, the Baptist college furloughed all employees while it sought to address its budget deficit. At the time, President James Lytle said Clarks Summit still planned on welcoming students back in the fall.
- But Clarks Summit’s board of trustees and employees have “exhausted every viable solution to bridge a significant financial gap,” the university said this week. It will cease offering courses in August.
Dive Insight:
Enrollment at Clarks Summit, known as Baptist Bible College until 2016, had declined steeply. The university had 552 students in fall 2022, fewer than half of the 1,107 students it enrolled in fall 2012, according to federal data.
While Clarks Summit did not detail its financial struggles, tax documents show it faced a budget shortfall of almost $1.9 million in fiscal 2023.
Before the closure announcement, the university attempted to bridge the divide through fundraising.
But that did not bring the desired results. When announcing the furloughs, Lytle said the college had made progress with fundraising but warned of a “significant financial gap.” He and the rest of the administrators agreed to work without pay during the furlough, as did some employees.
At the time, Lytle sounded an optimistic note, citing enrollment growth projections for online graduate students and those in the seminary program.
But roughly a month later, that optimism came to an end with the college’s announcement that it would close.
Students enrolled in summer classes can complete the semester, but those who had planned to enroll or continue their studies in the fall will need to find a new college. Clarks Summit has established teach-out plans with two other religious institutions — Liberty University, in Virginia, and Cairn University, in Pennsylvania.
Both institutions will offer current and incoming Clarks Summit students “a simplified admission process.” They will also accept all Clarks Summit credits “with some conditions,” the closing university said.
Clarks Summit academic advisers will assist students with transferring through July 12, and the registrar’s office will remain open for 90 days to help facilitate the process.
In an FAQ addressing students’ deposits, the college said, “As property and assets are sold and proceeds become available, they will be distributed to creditors like you in the legally prescribed order. If sufficient funds are available, your claim will be paid in full.”
Clarks Summit is far from the only faith-based college to announce its closure in recent times.
For instance, Eastern Nazarene College, a nonprofit in Massachusetts, announced last week that it would close after years of “significant financial headwinds.”
The two colleges had parallel paths to their demise. Eastern Nazarene also saw steep enrollment declines, ran a budget gap, and said officials had exhausted options to avoid shuttering.