LA PLUME, Pa. — Keystone College’s accrediting body is worried the school is in "imminent danger of closing" and gave Keystone until August 1 to show otherwise.
Depending on its response, the Middle States Commission on Higher Education could withdraw the school’s accreditation — a monumental step impacting access to federal aid.
Keystone's campus spans Lackawanna and Wyoming Counties.
The college remains accredited in the meantime. However, this summer promises to be consequential for its future.
In response, Keystone acknowledged Friday that Middle States raised concerns about the college’s finances, but reiterated earlier statements they are in “substantive discussions” with an undisclosed investor who may provide “a long-term path forward.”
“We remain hopeful that those discussions will be successful, and we will keep the college community and public informed of the results,” the college said in a statement Friday. “Until that time, Keystone College will conclude its Spring semester and prepare for a wonderful 2024 Commencement, as well as a full schedule of summer classes, activities and athletic camps.”
The development comes roughly two months after a proposed partnership agreement with the Washington Institute for Education and Research fell through.
Once that happened, Keystone withdrew its “complex substantive change” request filed with Middle States. Middle States told Keystone to craft a “teach-out” plan — a safeguard so students can complete their degrees in the event of a closure. Middle States received that plan late last month.
An updated “teach-out” plan and a supplemental report is due to Middle States by May 15, according to the accreditor.
Keystone last had its accreditation reaffirmed in 2014. It can trace its history in the area back 90 years.