2008 Woodie Awards
Antioch College closes due to financial trouble
Constance Schiano
Issue date: 2/29/08 Section: Community
After months of uncertainty and debate, Antioch College in Yellow Springs, Ohio announced the school will close for the 2008-2009 academic year.
According to a press statement issued by Antioch University President Andrzej Bloch Feb. 22, the trustees decided to suspend operations at the Yellow Springs campus as of June 30 due to a financial emergency. The campus will stay closed until 2012 at the latest.
Antioch College is one of the branches throughout the nation of the larger Antioch University. The university makes decisions concerning financial and academic situations at the colleges.
Bloch said after the trustees initially made the decision in June of 2007 to temporarily close the college, a group of alumni formed the Antioch College Continuation Corporation (ACCC) with the hopes of acquiring the school, forming their own Board of Trustees and making Antioch a small, liberal arts college that would be independent from the university trustees.
According to Bloch, after the ACCC was formed, they managed to raise $18 million, which prompted the trustees to enter into negotiations with the ACCC, other alumni and Yellow Springs residents in November 2007.
According to the Bloch, as of the Feb. 15 deadline, which signaled the end of negotiations, the ACCC and the university trustees still hadn't reached a compromise. Bloch attributed the lack of funds, incoming class and academic plan to the university trustees' decision to reissue the college's suspension on June 30.
Bloch said that although the school will not be open in fall 2008, the trustees have decided to continue negotiations with the ACCC to speak about transferring the school to the ACCC's control. This transference will only occur if there are adequate funds and if the ACCC has devised a suitable academic plan.
"I cannot make promises that the negotiations are going to succeed," Bloch said. "It is a very complex situation and I hope the negotiations will be completed this time."
According to a press statement issued by Antioch University President Andrzej Bloch Feb. 22, the trustees decided to suspend operations at the Yellow Springs campus as of June 30 due to a financial emergency. The campus will stay closed until 2012 at the latest.
Antioch College is one of the branches throughout the nation of the larger Antioch University. The university makes decisions concerning financial and academic situations at the colleges.
Bloch said after the trustees initially made the decision in June of 2007 to temporarily close the college, a group of alumni formed the Antioch College Continuation Corporation (ACCC) with the hopes of acquiring the school, forming their own Board of Trustees and making Antioch a small, liberal arts college that would be independent from the university trustees.
According to Bloch, after the ACCC was formed, they managed to raise $18 million, which prompted the trustees to enter into negotiations with the ACCC, other alumni and Yellow Springs residents in November 2007.
According to the Bloch, as of the Feb. 15 deadline, which signaled the end of negotiations, the ACCC and the university trustees still hadn't reached a compromise. Bloch attributed the lack of funds, incoming class and academic plan to the university trustees' decision to reissue the college's suspension on June 30.
Bloch said that although the school will not be open in fall 2008, the trustees have decided to continue negotiations with the ACCC to speak about transferring the school to the ACCC's control. This transference will only occur if there are adequate funds and if the ACCC has devised a suitable academic plan.
"I cannot make promises that the negotiations are going to succeed," Bloch said. "It is a very complex situation and I hope the negotiations will be completed this time."
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