After the announcement of last-minute efforts to resuscitate the rapidly fading Dowling College had been made, the college’s board of trustees finally reached an agreement on June 8 to acquire funds that will keep the school open, from London-based Global University Systems; a financial and educational partner who will now help restructure the college’s monetary deficit.
The weeklong rollercoaster unfolded after the somewhat looming, yet rash, news broke that the 48-year-old Long Island liberal arts institution was preparing to shut its doors on May 31.
Though many felt nothing could be done, the college’s alumni association stepped in at the eleventh hour to attempt to save their beloved college.
The launch of fundraising website (www.savingdowlingcollege.com) was announced in a June 4 press release in hopes of raising enough money to ease the pressure from their daunting amount of debt. It had been reported that the college, having been on the brink of closure for years, is $54 million in debt.
Frank Corso, Jr., president of the Dowling College Alumni Association, expressed his confidence in his fellow Dowling graduates during the school’s time of urgency.
“The alumni of Dowling College are among the strongest supporters of our alma mater and want to do all they can to help save our school,” said Corso, in the press release. “With our online fundraising website now in place, I encourage all alumni to give as generously as they can. It’s critical that we demonstrate our capacity to be a reliable source of financial support the college can depend on as part of a stronger financial future.”
As of today, Dowling College does plan to be open for the upcoming fall semester, showing the efforts made by the school’s alumni association certainly have paid off for the time being.
The private college, located in Oakdale, caught more than 2,500 students and hundreds of faculty off guard by dropping the news of its planned shut-down only days before the summer session classes were set to commence. Luckily for them, the news of the agreement with Global University Systems ended a period of stress and uncertainty.
But although an agreement has been reached between the two parties, there is still no word on how much or how long the money provided by Global University Systems will allow the college to remain open.
Despite the unknown ahead, Corso, Jr. is optimistic saying, “I believe that we will have a positive outcome.”
After weeks of scrambling to keep Dowling College from closing its doors, the school’s president, Dr. Albert F. Inserra, issued a letter expressing his gratitude for the faith and patience from those in the middle of all the confusion.
“We know how difficult the last week has been for our students, our faculty and our staff. We recognize the importance of a sustained Dowling College to our entire Dowling family and community, including most of all our student body.”