Two times right after Saint Leo University and Marymount California College referred to as off plans to merge, the latter establishment introduced Friday that it would close in August.
“Like other compact, tuition-dependent universities, MCU has struggled economically in new a long time in the experience of declining enrollment, climbing fees and a pandemic, which university leaders acknowledged place them in a placement of not having the sources needed to support the institution’s operational fees,” a information release from the university explained.
“This is an very unfortunate working day for Marymount and for the legacy and traditions shed, equally for our campus community and the regional Palos Verdes location we have referred to as residence for additional than 50 years,” the release quoted Brian Marcotte, the university’s president, as indicating.
Marymount California was established by the Religious of the Sacred Heart of Mary order in the late 1960s as a two-yr establishment and began an aggressive drive to turn into a 4-12 months establishment with graduate courses in 2010.
Marymount California has viewed its enrollment slide by much more than 50 percent considering the fact that 2014–15, and it has burned by means of campus leaders.
Very last summer season it declared that it would merge into Saint Leo, one more Roman Catholic establishment located a continent away, in Florida.
But in December, Saint Leo’s accreditor, the Southern Association of Schools and Faculties Commission on Colleges, turned down its first approach for the merger. That led the two events this 7 days to formally get in touch with off the merger.
“The events did not receive regulatory approval as expected in December 2021 and, confronted with an prolonged timeline for consummation of the transaction, in the long run made the decision it was in the most effective passions of both equally universities to component methods amicably,” a statement from Saint Leo claimed.
The closure announcement arrived late Friday right after a vote by Marymount California’s board.
“This decision was not built lightly,” Marcotte reported. “But we felt the most compassionate point to do was to give absolutely everyone time to make options. Our concentrate now will be to help our learners, college and staff members.”