St. Andrews University announces immediate closure next week due to financial crisis; institution's liabilities exceed assets by US$10.2M despite enrollment growth to 832 students in fall 2023

April 28, 2025 (Inside Higher Ed) –

St. Andrews University announced Friday that it will cease operations next week.The private North Carolina institution, which is a branch campus of Florida -based Webber International University , announced that it was shutting down due to ongoing financial challenges that became insurmountable, according to aFriday statement“This outcome follows years of effort to preserve our presence in this community while delivering an affordable, high-quality education and meaningful student experience. Despite those efforts, we have reached a point where financial sustainability is no longer attainable,” Malik wrote.Most PopularDeSantis Calls Off for University of Florida DeanThe university is closing despite positive enrollment trends. St. Andrews enrolled 832 students in fall 2023, according to federal data. That’s up from 635 a decade before, in fall 2013, though apparently not enough to stabilize St. Andrews .As a branch campus, St. Andrews shared Webber International University’s financial woes. Arecent auditmentThe audit found that as of May 2023 , Webber’s liabilities exceeded its assets by $10 .2 million.Webber has also built its enrollment in recent years, climbing from 715 students in fall 2013 to 930 students in fall 2023, according to federal data, but financial challenges have persisted.Webber has a meager endowment, valued at $8 .6 million in its last available audit.Additionally, St. Andrews did not own its campus, which it sold in 2011 and leased back. Rent payments on the St. Andrews campus totaled $780,705 in 2023, financial documents show. St. Andrews was formally founded in 1958 when Flora Macdonald College for Women and Presbyterian Junior College merged. It was acquired by Webber International University in 2011.