After 115 years, Concordia University in Oregon will close its doors following the end of the 2020 spring semester and faces a potential class-action lawsuit launched by a student who claims he was misled about the institution’s financial struggles.
In a statement, the private Lutheran institution with about 5,700 students explained that its board of regents voted after much prayer and consideration of all options to cease operations of the school in a resolution approved on Feb. 7.
The board’s vote follows “years of mounting financial challenges and a challenging and changing educational landscape.”
Interim President Tom Ries said the board concluded that it’s “impossible to pursue” the school’s mission considering the current and projected enrollment and finances of the school.
“The board has come to this difficult decision recognizing that it is in the best interest of our students, our faculty, our staff, and our partners,” Ries said. He pledged to share more information as it becomes available.
According to Oregon Live, the closure will result in over 1,500 layoffs that will occur by September.
Concordia says it is in “active discussions” with accrediting bodies to provide students with opportunities to continue their education at other higher education institutions. Concordia is also in talks about how to help faculty and staff transition to the next phase of their careers.
SOURCE: Christian Post, Samuel Smith
All Content & Images are provided by the acknowledged source