IOWA WESLEYAN UNIVERSITY’S BOARD OF TRUSTEES UNANIMOUSLY VOTED TUESDAY TO CLOSE THE UNIVERSITY AT THE END OF THIS ACADEMIC YEAR.
THE DECISION IS BASED ON A COMBINATION OF FINANCIAL CHALLENGES INCLUDING INCREASED OPERATING COSTS DUE TO INFLATIONARY PRESSURES, CHANGING ENROLLMENT TRENDS, A SIGNIFICANT DROP IN PHILANTHROPIC GIVING, AND THE REJECTION OF A PROPOSAL FOR $12 MILLION DOLLARS IN FEDERAL COVID FUNDING BY GOVERNOR REYNOLDS.
THE MOUNT PLEASANT BASED SCHOOL STATED THAT VOTE TO CLOSE COMES AS THE UNIVERSITY HAS BEEN EXPERIENCING ENROLLMENT GROWTH, BUT OVERALL ENROLLMENT IS STILL NOT AT A THRESHOLD NEEDED FOR FINANCIAL STABILITY.
THE UNIVERSITY HAS BEEN IN EXISTENCE FOR 181 YEARS AND HAS A CURRENT ENROLLMENT OF OVER 850 STUDENTS.
WHEN THE UNIVERSITY CLOSES ON MAY 31ST, THE PHYSICAL CAMPUS WILL BECOME THE RESPONSIBILITY OF THE UNITED STATES DEPARTMENT OF AGRICULTURE.
