College of New Rochelle expected to close by end of summer semester
The College of New Rochelle announced that it's expected to close by the summer of 2019.
College students received a letter Friday to address the closing. Some say they were not aware the school was struggling financially.
One student says she’s attending the school for the 18-month nursing program and may have to start over again.
The college was founded in 1904 and served as the first Catholic women's college in New York state at a time when women were generally excluded from higher education. Neighbors say the school has served as a landmark for the past 115 years.
Major financial irregularities were uncovered in 2016, which exposed that the school was in deep debt. The irregularities added up to $20 million in unpaid payroll taxes.
The college's auditor has not yet made a final decision. Students hope they'll be able to complete their studies.
The school also experienced dozens of layoffs, and a new president was hired just last year.