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Dowling Files for Bankruptcy Protection

December 1, 2016

Dowling College filed for Chapter 11 bankruptcy protection Tuesday, moving to sell its two campuses on Long Island after shutting down this summer due to financial problems.

The small private nonprofit college estimated in court documents that its liabilities stand at between $50 million and $100 million. It estimated its assets as being worth between $100 million and $500 million. Dowling owns campuses in Oakdale and Shirley, N.Y., less than 20 miles apart.

Dowling will use bankruptcy protection in order to sell its real estate and other assets at the highest value possible, the college’s bankruptcy attorney, Sean C. Southard, told The Wall Street Journal. The college’s debt includes money owed on tax-exempt municipal bonds and general unsecured debt, he told the newspaper.

In June, Dowling announced plans to close after its enrollment dropped roughly in half since 2009 to about 2,000 students. Days later it said it was attempting to stay open by striking a partnership with Global University Systems, but it was ultimately unable to do so and closed its doors in August.

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Rick Seltzer

Rick Seltzer, Projects Editor, oversaw special projects and coordinated daily production for Inside Higher Ed from 2019 through May 2021. He joined the publication in 2016, covering finance and management. Previously, he worked as a reporter for The Baltimore Business Journal, The Bloomington Herald-Times, the Central New York Business Journal and The Harrisburg Patriot-News. He has covered numerous business, municipal, government and general assignment beats. Rick graduated from Syracuse University in 2008.

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