"Birmingham-Southern College to Shut Down After 170 Years"

Birmingham-Southern College, a 168-year-old private liberal arts college in Alabama, will close at the end of May due to financial difficulties and the inability to secure a financial lifeline from the state. Efforts to obtain a taxpayer-backed loan stalled in the Alabama Statehouse, leading to the unanimous decision by the College Board of Trustees to close the institution. The closure follows years of financial struggles, including a significant loss to the endowment during the 2009 financial crash and accounting errors in budgeting federal student financial aid. The college is working on agreements with other institutions to help students transfer credits and stay on track.