MOUNT PLEASANT, Iowa- Late last week the President of Iowa Wesleyan University made an announcement concerning financial problems facing the school.
President Steven Titus in a statement said one option being considered was closing the school, due to a lack of funding needed to run next semester.
“The cash position of the institution has been a challenge for many many years,” said Titus, who has served as president here since 2013. “For many many years the reality is most of the discount rate at student financial aid for a lot of us continues to go up, that means enrollment goes up but revenue does necessarily follow.”
Nick Fencl is a senior member of the Iowa Wesleyan Baseball team. He is so concerned about the school’s future he has raised $1100 to help Iowa Wesleyan on Facebook.
“We’ve been doing a bunch of things to kind of raise some money just in case it may come down to that,” said Fencl. “So, a lot of students here are kind of worried about what the future may hold especially from the 50 graduating seniors.”
“So we thought that everything was financially stable but then once we got the word out that the school may be closing during practice it was just a big shock,” said Joana Gonzalez, a sophomore student from the Chicago area.
The school President stresses there has been no final decision made as to if the school stays open, or looks to another solution.
“Might there be partnerships mergers affiliations, ways to come together with other institutions that might make us even more robust,” said Titus. “I think that is really the conversation that we have to be in right now.”
The Board of Trustees plan to meet November 15th to decide what action the school should take regarding the financial situation.