SELMA, AL (WSFA) - Concordia College Alabama in Selma will close its doors at the end of the Spring semester of 2018, officials announced on Wednesday.
After 95 years, the college announced the decision was made with "heavy hearts and deep regret". An in-depth look at the institution's financial resources concluded that Concordia College would not be able to continue to offer its programs.
According to the Board of Regents, current students will be assisted with their personal higher education goals. Faculty and staff will also be assisted in finding new positions.
No additional new students will be admitted after the current semester, which began on Jan. 8.
"The Board of Regents deeply appreciates the work of the faculty, staff and other who has worked tirelessly, and a personal sacrifice, to keep Concordia College Alabama viable," Lloyd Probasco Chairman of the Board of Regents said. "We wish them the Lord's blessings as they move to other positions,"
For the past few years, the board of regents along with college administration had worked to find ways to bolster the financial position of the institution. Officials also confirmed they had begun searching for an investor to partner with. The hope was that the investor would help to pay off the school's debt, mortgage and allow for restructuring that would be needed to save the institution.
Concordia is in the process of developing a teach-out plan which will be submitted to the Southern Association of Colleges and Schools Commission on Colleges for its approval. Officials say they will also inform other appropriate state and federal agencies.
Concordia College was established in 1922. Currently, around 400 students are enrolled and they have a little fewer than 100 employees.