Three universities have closed so far this year.
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Lourdes University will close in May due to “insurmountable financial pressures” caused by declining enrollment, rising costs and an unsustainable financing model, officials announced.
The private Catholic university in Ohio was founded in 1958 by the Sisters of St. Francis.
The Lourdes board of directors wrote in a statement Wednesday that they “explored possible paths forward carefully and conscientiously” before the sisters concluded it was financially unsustainable to continue operating beyond this school year and needed to close in May.
Trustees noted that the Sisters of St. Francis can no longer subsidize its operations.
“Sadly, it is now clear that there is no path forward for this institution, and this decision is the most responsible one for our students, our faculty, and our mission. We are deeply grateful for all our sisters have given us over the decades, and we will honor the spirit of support in the remaining months,” board members wrote in the announcement.
The decision to close the university comes after years of operating at a loss, according to public financial documents. The university has a meager endowment of $13.6 million, much of which is restricted, providing little financial relief as operating losses mount.
Federal enrollment data also show student numbers have been declining for years. In fall 2024, Lourdes enrolled 964 students. Ten years ago in fall 2014, the university enrolled 1,780 students. In the early 2010s, enrollment hovered around 2,500 students.
Lourdes is the second institution to announce closure plans this week and the third this year.
Providence Christian College, a private institution in California, announced this week that it will close before the end of the school year. Elsewhere in the Golden State, CalArts announced in January that it would close in 2027 and sell its campus to Vanderbilt University.
