Iowa college says new funding saving it from closure
MOUNT PLEASANT, Iowa (AP) — A private school in southeast Iowa that was on the verge of closure says it has secured new funding that will keep its doors open.
The board of Iowa Wesleyan University in Mount Pleasant voted Thursday to continue operations after securing funding from alumni and the community, as well as collaboration with the U.S. Department of Agriculture Rural Development.
The school had said earlier this month it needed to raise more than $2 million for its spring semester and at least $4.5 million to stay open for another year. The Hawk Eye reports that within a week of that announcement, the school was able to raise nearly $1 million, mostly from donors.
The school’s money woes came despite a recent enrollment increase.