university, located in the heart of the city, announced on Friday it was closing its doors and going out of business.
No official reason was given for the abrupt closure other than school officials claiming it was necessary due to an undisclosed “urgent” financial crisis,” according to the“Under extraordinary circumstances, we diligently assessed the urgent crisis presented and pathways to keep the institution open,”“Despite our best efforts, we could not ultimately identify a viable path for the institution to remain open and in the service of its mission.
University finances were said to have substantially declined over the years, partially due to decreased student registrations. The school had suffered a 44% decrease in student enrollment over the last decade, according to reports. Last year, there were only 1,149 students in the school, smaller than most high schools within the Philadelphia area.