Why Closed Limestone University Should Settle Outstanding Payments to Students: What You Need to Know

Limestone University closed unexpectedly in May after facing serious financial challenges and failing to secure funding. The school now owes nearly $400,000 to 281 students who were affected. This amounts to an average refund of over $1,350 per student, but some individuals, like former graduate student Michael Thielen, are owed much more. Thielen claims he is owed over $4,000 and has not heard from the university for almost two months. He expressed frustration over the lack of communication and accountability.

The abrupt closure of Limestone was a significant event in higher education, especially considering the warning signs that had been appearing for years. Just in April, university officials suggested they were pursuing a $6 million financial rescue plan that ultimately did not come through.

In addition to students, former staff members have stepped forward, filing a lawsuit against the university regarding its handling of mass layoffs. The situation raises questions about transparency within educational institutions, a concern echoed by many on social media platforms.

Historically, school closures like this one are not uncommon, especially for institutions struggling with financial stability. Data from the National Center for Education Statistics shows that from 2004 to 2018, private nonprofit colleges experienced a closure rate of 3.1%. This reflects broader trends in higher education where market demands and financial health directly impact survival. As of now, further investigation into the university’s financial practices may be necessary to ensure something similar does not happen in the future.

For more details on this troubling situation, you can read the full report from The State and insights from the lawsuit filed by former employees.



Source link

Higher, Education, News, Jobs, Events, Career