South Carolina Private University Shuts Down After 180 Years Due to Inability to Secure $6 Million in Funding
** Ran't Let Go: Limestone University's Last Gasp**
Hell's bells, some bad news for ya, South Carolina! A private Christian uni's about to pull the plug because they couldn't scrape together enough dough to keep its doors afloat. Yep, Limestone University's gonna shutter at the end of this semester, having failed to raise the necessary $6 million.
The university's bigwigs hustled hard for two weeks, but all they could wring outta folks was a measly $2.1 million. Darn near crushed their fundraising dreams. The institution swore they'd cough up donors' cash if they couldn't keep the lights on.
No pity from South Carolina's lawmakers though. After all, it's a private joint. And private universities and colleges have been flickering out like moths in a flame these days—about two a month, according to the State Higher Education Executive Officers Association.
So what the hell went wrong at Limestone? Well, they hemorrhaged around half their student body over the past decade, leaving them with barely over a thousand souls. Yikes!
"Our Limestone spirit'll live on through our students and grads," said Randall Richardson, chairman of the school's board. "Though our doors close, the ripple effect of Limestone'll carry on."
The university made waves back in April, when they announced they were on the brink if they didn't get an immediate $6 mil injection. Nearly 250 folks threw in, but it wasn't enough to save 'em.
Now what does this mean for students? Well, Limestone's promised to help 'em transfer smoothly to other schools. But it's a bitter pill for those who've invested a ton of cash on unrefundable tuition.
Gaffney, the town where Limestone's campus resides, is feeling the heat too, with hundreds of educators and support staff facing unemployment. It's a tough break for a city of just over 12k souls, situated half-way between Charlotte and Spartanburg on old I-85.
A sad sight indeed was some 50 students gathered outside the trustees' meeting spot on Tuesday, giving one another hugs after readin' the email that confirmed Limestone University's demise.
"When we learned the school had a $30 mil debt, we all wondered how they'd climb outta it," said former football player Daniel Deneen Jr. from Myrtle Beach. "These last two weeks have been a real heartache with final exams right around the corner."
Limestone's last hurrah'll be on Saturday, when they hold their final graduation ceremony. And it ain't the only local university callin' it quits this month—St. Andrews University, some 150 miles away in North Carolina, is set to close after the spring semester too.
But fear not, soon-to-be Limestone alums! Your degrees'll still be worth a lick, since the university's accredited by the Southern Association of Colleges and Schools Commission on Colleges (SACSCOC). Cheers to that!
The average donation raised by Limestone University's fundraising efforts was disappointingly low compared to the necessary $6 million, shedding light on the struggle in general-news and education-and-self-development sectors, especially private institutions. Despite certain financial struggles, the closing of Limestone University will still impact the average finance of students who have invested in unrefundable tuition, potentially creating a ripple effect beyond the institution itself.
