Bethany University, the 92-year-old private Christian school nestled in the hillsides of Scotts Valley, announced on Monday that it will be closing its doors.
University President Lew Shelton wrote on the school’s website that the university will be transitioning to a “teach out” mode as of June 13.
“This means that students enrolled in summer classes will be guided through to the end of the semester on Aug. 15. However, classes will not convene for the 2011-2012 academic year,” Shelton wrote.
Shelton added that the university is working on arranging Memoranda of Understanding or agreements with other accredited schools to transfer continuing students to, including Vanguard University, William Jessup University, and Northwest University.
“Bethany is committed to facilitate the process for students who choose to transfer to institutions with which Bethany has Memoranda of Understanding,” Shelton wrote. “Students may also seek to transfer to institutions of their choice independent of the Memoranda of Understanding.”
Bethany, a four-year private university owned by the Northern California and Nevada Districts of the Assemblies of God, has been struggling financially over the years and has seen some of its athletic programs cut, majors eliminated and a declining enrollment.
Last week, the university announced a private group of investors were set to buy the school. That deal, however, fell through sealing the university’s fate.
Bethany’s board of trustees will meet on July 7 to formalize the closure.