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Clearwater Christian College announced Friday that it will close due to myriad financial challenges. Clearwater, founded in 1966, is a small Christian college in Florida. It enrolls about 500 students, down from about 600 students a decade ago. Declining enrollment, increased debt and the lack of a sizable endowment precipitated the closing, the college said in a statement posted on its website.
“The board and administration of Clearwater Christian College thoroughly investigated a variety of short-term and long-term viability options,” read the statement. “Unfortunately the related due diligence process did not yield a resourced solution to the operational stress points of the college which could ensure completion of another academic school year.”