South Carolina's Limestone University considering closure due to financial crisis

Limestone University, one of South Carolina's oldest private colleges, is considering closure or a shift to online-only classes due to financial difficulties.

The Board of Trustees revealed that the institution is struggling with a significant financial shortfall, requiring $6 million in immediate support to continue operations.

Founded in 1845, the private institution has long been a staple of the local community and higher education, but declining enrollments and rising costs have left the university on the brink of closure.

If this funding is not secured, Limestone may have no choice but to transition to online-only classes or, worst-case scenario, shut its doors for good.

The university's financial difficulties stem from the broader trend affecting small, private institutions across the country, including enrollment declines, increasing operational costs, and structural budget deficits.

In 2024 alone, 16 non-profit colleges closed, and Limestone’s current predicament mirrors that of other religiously affiliated institutions.

If the Board elects to move the institution entirely online, it would end all in-person activities, including its 23 NCAA Division II athletic programs. These programs, which have seen significant success, are a central part of student life at Limestone, contributing to the community’s sense of pride and tradition.

Limestone’s impact extends beyond education, with an estimated annual economic contribution of $150 million to the local economy in Gaffney. Mayor Lyman Dawkins III expressed his concern over the potential closure, calling it a “devastating” blow to the community.

The university has played a vital role in the revitalization of downtown Gaffney, with students providing energy and support to local businesses.

While the transition to online education might ensure the university’s survival, the loss of the physical campus would mark the end of an era for Limestone, leaving its community to grapple with the loss of a key institution.