Antioch College, a 155-year-old liberal-arts college in Yellow Springs, Ohio, announced today that it would “suspend operations” in July 2008 because of a budget crisis spurred by declining enrollment, a small endowment, and an overwhelming dependence on tuition revenue. In a news release, the college said that it hoped to raise enough money to reopen by 2012, and that its four satellite campuses would remain open. As part of the plan, the college’s Board of Trustees declared a state of financial exigency, which will allow the entire 160-member faculty to be laid off. —Andrew Mytelka
Update: A Chronicle article provides more details and reaction.
Update: A Chronicle article has more background, history, and analysis of the news.
