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College of Saint Katherine shuts down after lower than 15 years

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Dive Temporary:

  • Going through a “steep” money shortfall, California-based College of Saint Katherine is closing and can file for chapter, President Frank Papatheofanis stated in a letter to campus posted on social media final week by one of many establishment’s sports activities groups.
  • Behind the personal nonprofit’s crunch in working money is “extraordinary inflation,” together with wage will increase, in addition to excessive institutional monetary assist, the president added. He didn’t instantly reply to a request for remark.
  • Papatheofanis despatched the letter saying the closure on Thursday, the identical day the college deliberate to stop all operations and employment. It can “pursue and think about any alternative we are able to determine” whereas going by the chapter course of, Papatheofanis stated.

Dive Perception:

Earlier than ceasing operations, Papatheofanis and the board “vigorously explored a number of choices that may enable us to proceed,” the president stated in his letter. 

However the abrupt closure got here as a shock to college students. The San Diego Union-Tribune reported that college students and school have been packing up belongings on campus Friday. One pupil informed the newspaper that she was purported to graduate in Might and now didn’t know if there can be a ceremony, including, “That is stunning.”

In an announcement emailed to Larger Ed Dive, Jamienne Studley, president of WASC Senior School and College Fee, the college’s accreditor, stated that it anticipated Saint Katherine to fulfill its teach-out necessities and assist college students transition to a different establishment.

“We’re intently monitoring the establishment’s compliance with accreditation necessities, together with pupil rights and data,” the Studley stated. 

The college, which describes itself as Orthodox Christian, was based in 2010 in San Marcos. It supplied practically 20 bachelor’s levels within the liberal arts and sciences, in addition to three grasp’s diploma packages, together with theology. 

In 2022, WSCUC recommended the establishment for rising its enrollment, even through the early years of the pandemic. 

WSCUC additional praised Saint Katherine on a brand new “aesthetically pleasing” house, new on-line grasp’s program and a related college group.

On the time, a fee official additionally famous the college wanted to develop “a sustainable monetary posture” that might be future-looking, account for “ample sources to assist institutional progress” and keep wholesome money flows.  

Within the 2022 fiscal 12 months, Saint Katherine confronted a deficit of practically $212,000, even after considerably rising its income and posting a surplus the prior 12 months, in accordance with tax filings. The school was discounting its tuition by greater than 40%, in accordance with its newest auditor report

From 2017 to 2021, Saint Katherine practically doubled its enrollment, which rose from 137 college students to 267, in accordance with federal information. Nevertheless, from 2021 to 2022, enrollment fell 13.1%. 

Whereas its web site doesn’t at the moment point out the closure, the college’s “Apply” web page says that Saint Katherine just isn’t accepting purposes.

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