A predominantly Black institution in Indianapolis is closing its doors after serving the community for 50 years. Martin University closed permanently after the Board of Trustees voted to stop operations due to financial struggles, The Edu Ledger reported. A letter from the board outlined the dire financial struggles that has forced the institution to close its doors.

“Without an endowment and given today’s political climate around higher education funding, this financial model is simply not sustainable,” the board stated, according to The Edu Ledger.

The school is recognized as a predominantly Black institution (the only one in Indiana) and a minority-serving institution instead of an HBCU, as it was founded after the deadline for HBCU designation.

Martin University has faced financial challenges for quite some time

According to The Edu Ledger, Martin University has been relying on grants, government aid and philanthropy because students haven’t been able to afford tuition. That system, however, turned out to be an unsustainable means for the university.

A decline in enrollment, coupled with rising costs and increasing debt, also added to the financial struggles of the school, leading to the closure.

Over 100 colleges have closed in the past 10 years

Over 100 colleges across the nation have closed in the past decade due to various reasons. Many of the closures include institutions that have particularly served low-income and minority students for decades.

Two of the most prominent schools that closed in 2024 are Birmingham-Southern College in Alabama and the University of the Arts in Philadelphia. Lincoln College in Illinois also closed in 2022 after serving the community for 157 years.

In addition to financial challenges, a change in demographics has been attributed as one of the factors leading to the closures of recent years. The shift in demographics is partly caused by declining birth rates, which leads to a decrease in the typical college-age population. According to NPR, a significant decline in birth rate has been seen since late 2007 and that’s part of the reason why the data now shows fewer 18-year-old students entering college.

Martin University

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