Limestone University, South Carolina’s third-oldest private college, will close permanently after failing to secure $6 million in emergency funding, ending nearly two centuries of educational service.
At a Glance
- Founded in 1845, Limestone University to close after 179 years
- $2.1 million raised fell short of $6 million needed to continue operations
- Enrollment declined from 3,200 to 1,600 over the past decade
- Approximately 500 faculty and staff to lose their jobs
- Final commencement ceremonies scheduled for May 3
Financial Collapse and Closure Decision
Limestone University, a private Christian institution in Gaffney, South Carolina, announced it will cease operations at the end of the current semester. According to ABC News 4, the decision followed an unsuccessful “Together for Limestone” campaign that raised $2.1 million—well short of the $6 million needed to sustain the school. The Board of Trustees voted to shut down all programs, citing a $30 million debt and declining enrollment.
Watch WYFF 4’s report on the closure at Limestone University board votes to close on-campus, online programs.
Declining Enrollment and Financial Mismanagement
Enrollment at Limestone dropped from 3,200 students in 2014 to about 1,600 by 2025. According to Inside Higher Ed, operating deficits reached $11.4 million in 2023 and $9.2 million in 2024. The university tapped its endowment heavily, shrinking it from $31.5 million to $12.6 million in just one year.
Inside Higher Ed also reported that auditors expressed “significant doubt” about Limestone’s financial sustainability, pointing to repeated losses and negative cash flow.
Community Reaction and Transition Plans
The closure stunned students and faculty alike. According to Fox News, many questioned why financial issues weren’t addressed earlier. “The problems didn’t happen overnight and they probably could have been addressed sooner,” said Paul LeFrancois, echoing faculty frustrations.
Forbes confirmed that Limestone will assist current students with transfer arrangements and support faculty through the shutdown. University President Dr. Nathan Copeland expressed deep regret over the closure, saying, “Words cannot fully express the sorrow we feel in having to share this news.”
Limestone’s final commencement will take place May 3 at Fullerton Auditorium—its last official act after 179 years of service.
