LAWRENCEVILLE, Va. - The decision by St. Paul's College to close came after the historically black college battled for years to keep its accreditation amid crushing debt and an acquisition bid was abandoned.
The chairman of St. Paul's board of trustees informed the Southern Association of Colleges and Schools Commission last week that it will close on June 30. The decision was announced weeks after St. Augustine's University in Raleigh, N.C., said an acquisition of St. Paul's would have challenged its own "fiscal stability."
Belle S. Wheelan is president of the accreditation agency. She said after the St. Augustine's acquisition fell through, St. Paul's had no choice but to close.
Founded in 1888, St. Paul's was affiliated with the Episcopal Church. The 183-acre campus is located in Lawrenceville in Southside Virginia.
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