The King’s College is a prominent Christian liberal arts college in New York City.
The Middle States Commission on Higher Education announced last week that King’s College, which had already opted to cancel its fall semester classes, had failed to fill out the “required substantive change request for institutional closure.”
MSCHE went on to note that King’s College had “failed to update public disclosures pursuant to Commission policy and procedures” and “failed to meet its membership responsibilities,” and so as a result, “accreditation will cease on August 31, 2023.”
In July, the college’s board of trustees announced that, due to financial issues, they would not be holding classes in the fall semester, though they stressed that they were not planning to close the campus permanently.
In a statement the school wrote, “The Board of Trustees and senior administration will continue to navigate the College’s next steps and continue to contend for King’s future over the coming months. The Board is committed to continuing our efforts to pursue strategic alliance opportunities.”
The college, which had relied on the generosity of billionaires such as Richard DeVos and Bill Hwang, had turned to another billionaire, Peter Chung, for help.
Chung provided a $2 million loan to the college and his for-profit education company, Primacorp Ventures, was hired to launch an ambitious online program.
But the online program, which was expected to bring in thousands of students and boost the bottom line, failed to materialize.