Dive Brief:
- Martin University, Indiana’s only predominantly Black institution, will close, according to its board.
- The announcement comes after the private Indianapolis nonprofit said on Dec. 9 it would temporarily cease operations at the end of the year in an effort to find a path toward long-term viability.
- Instead, Martin’s trustees are now looking to “wind down operations with dignity, transparency and compassion.” The board cited declining enrollment, increasing costs and a growing institutional debt in a Dec. 31 letter published through Indianapolis Recorder Newspaper.
Dive Insight:
Martin’s accreditor, the Higher Learning Commission, directed the university to cease operations after it announced the pause, according to university board members. HLC has either sanctioned the university or had it on monitoring status since 2012.
A public disclosure from HLC shows Martin “voluntarily resigned” its accreditation as of Dec. 31.
“Combined with the lack of sufficient operating revenue, Martin has had no choice but to move toward closure,” the board said…