I know several graduates of what is now called Grace University. (Most, but not all, of the folks I know attended the Omaha, Nebraska Christian school when it was called Grace Bible Institute or Grace College of the Bible). Needless to say, I was sorry to read this piece at Inside Higher Ed:
Grace University, in Omaha, Neb., will close at the end of the current academic year, it said Tuesday, shortly after a small incoming freshman class forced it to re-evaluate plans to sell its campus and relocate about 30 miles away.
Leaders at the nondenominational Christian university, which enrolls fewer than 300 students, said they had exhausted options for addressing persistent financial challenges. By deciding on a closure plan now, they hope to give students and faculty and staff members enough time to plan for the transition and complete the current academic year successfully.
“The economic difficulties Grace has encountered over the past several years were due mainly to declining enrollment while initiatives to grow enrollment were unsuccessful,” wrote Carlon Tschetter, chair of the Grace Board of Trustees, in an announcement of the closure decision. “The financial impact of those issues reached a level whereby the amount of cash required to continue operations beyond the current year could not be reasonably attained without putting the university at significant risk.”
Read the rest here.