Two days after Saint Leo College and Marymount California College known as off plans to merge, the latter establishment introduced Friday that it could shut in August.
“Like different small, tuition-dependent faculties, MCU has struggled financially lately within the face of declining enrollment, rising prices and a pandemic, which college leaders acknowledged put them ready of not having the assets wanted to assist the establishment’s operational bills,” a information launch from the college mentioned.
“That is an especially unhappy day for Marymount and for the legacy and traditions misplaced, each for our campus group and the native Palos Verdes space we now have known as house for greater than 50 years,” the discharge quoted Brian Marcotte, the college’s president, as saying.
Marymount California was based by the Non secular of the Sacred Coronary heart of Mary order within the late Sixties as a two-year establishment and commenced an aggressive push to turn out to be a four-year establishment with graduate packages in 2010.
Marymount California has seen its enrollment fall by greater than half since 2014–15, and it has burned by means of campus leaders.
Final summer time it introduced that it could merge into Saint Leo, one other Roman Catholic establishment positioned a continent away, in Florida.
However in December, Saint Leo’s accreditor, the Southern Affiliation of Faculties and Faculties Fee on Faculties, rejected its preliminary plan for the merger. That led the 2 events this week to formally name off the merger.
“The events didn’t obtain regulatory approval as anticipated in December 2021 and, confronted with an prolonged timeline for consummation of the transaction, finally determined it was in the most effective pursuits of each universities to half methods amicably,” an announcement from Saint Leo mentioned.
The closure announcement got here late Friday after a vote by Marymount California’s board.
“This resolution was not made frivolously,” Marcotte mentioned. “However we felt essentially the most compassionate factor to do was to offer everybody time to make plans. Our focus now shall be to assist our college students, school and employees.”