With $54 million in debt, Dowling College on Long Island is closing Friday afternoon.
College President Albert Inserra said the school was unable to find a “suitable academic partner” to help it stay open.
As of 2014, the private liberal arts school had about 2,400 students, but enrollment had declined by more than 50 percent since 2005.
College officials say they’re helping students transfer to other institutions.
Molloy College in Nassau County is providing a transition counseling center for Dowling Students to continue their education.