Limestone University, a private Christian institution in South Carolina founded in 1845, announced it will close at the end of the current academic semester in 2025 due to severe financial difficulties. The university's Board of Trustees voted to discontinue both on-campus and online programs after failing to raise the $6 million needed to sustain operations. Despite a last- ditch fundraising effort that raised about $2.1 million from nearly 200 donors, this fell significantly short of the required amount
. The closure follows years of financial struggles marked by declining enrollment-down from over 3,200 students in 2014 to around 1,600 recently-and mounting budget deficits ($9.2 million in 2024 and $11.4 million in 2023). The university also carried over $30 million in debt, including a large loan from the U.S. Department of Agriculture, and had to draw heavily on its endowment, which collapsed from $31.5 million to $12.6 million in value over two years
. The university expressed deep sorrow over the closure, highlighting the efforts of students, faculty, staff, and alumni to save the institution. Limestone plans to conduct an orderly wind-down process, assist students in transferring to other schools, and hold its final commencement ceremony in May 2025. The closure will also result in job losses for about 478 employees
. This closure is part of a broader trend of private colleges facing financial challenges and closures, driven by demographic shifts and pandemic impacts on enrollment
