Originally published Tuesday, January 13, 2009 at 2:05 PM
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Alumni group offers $6.5M for Antioch College
An alumni group from financially strapped Antioch College says it is willing to contribute $6.5 million toward turning the Ohio college into an independent school separate from its parent, Antioch University.
An alumni group from financially strapped Antioch College says it is willing to contribute $6.5 million toward turning the Ohio college into an independent school separate from its parent, Antioch University.
The amount is included in a letter of intent approved by the alumni group and university trustees.
The college in Yellow Springs, Ohio, is temporarily closed because of financial problems caused by declining enrollment, a heavy dependence on tuition and a small endowment.
The letter announced Tuesday isn't binding but sets up a framework for negotiating an agreement between the trustees and the alumni group.
The college is the flagship of Antioch University, which also has campuses in Seattle, Los Angeles, Santa Barbara, Calif., and Keene, N.H.
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Antioch College: http://www.antioch-college.edu/
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