Yahoo Finance Nearly 150-year-old art college suddenly closes its doors, citing financial troubles
A private Philadelphia art college says it has lost its accreditation and is closing its doors after nearly 150 years, a demise that follows financial and enrollment issues.
University of the Arts President Kerry Walk and Chair of the Board of Trustees Judson Aaron announced in a joint letter Friday the art school will close on June 7 after the Middle States Commission on Higher Education withdrew its accreditation.
The school's leadership said the suddenness of the situation shocked them and followed "significant, unanticipated expenses."
The Middle States Commission on Higher Education announced Friday it was withdrawing the school's accreditation after hearing from the University of the Arts that it was planning to close. The commission listed numerous other issues with the school's accreditation status as well.
Walk and Aaron said it was no secret the University of the Arts had been fighting financial troubles. "But like many institutions of higher learning, UArts has been in a fragile financial state, with many years of declining enrollments, declining revenues, and increasing expenses," they wrote. "We have worked hard this year alongside many of you to take steps that would secure the University’s sustainability."
Walk and Aaron said a town hall is planned for June 3 for students, faculty and staff. They say students will be able to transfer to other Philadelphia schools, including Temple University, Drexel University, and Moore College of Art and Design.
University of the Arts is the third art school in Philadelphia to close in the past 10 years. The Pennsylvania Academy of the Fine Arts, a private art college, announced in January it was ending its college programs after more than 10 years in operation. In 2018, the commission revoked the Art Institute of Philadelphia's accreditation and the larger college system announced in September all of its remaining schools would close as well.
Contact reporter Krystal Nurse at knurse@USATODAY.com. Follow her on X, formerly Twitter, @KrystalRNurse.
This article originally appeared on USA TODAY: University of the Arts in Philadelphia says it will close June 7
