Antioch College Main Building. (News archive photo)
Antioch College’s financial distress designation removed
- Published: May 18, 2025
Good news came down for Antioch College last week: The Higher Learning Commission has removed the financial distress designation it assigned to the college in November 2024.
As the News reported earlier this year, the HLC, which offers evaluation and accreditation to colleges and universities, assigned the financial distress designation based on information received in a “complaint indicating that the institution’s auditors made a going concern audit finding.”
The finding in question referred to a financial audit completed in 2023, which stated that the college’s “significant decreases in net assets, reliance on contributions and borrowings from its endowment fund” raised “substantial doubt about its ability to continue as a going concern.”
With the removal of the financial distress designation, the college retains its accreditation from the HLC.
In a letter to community members this week, President Jane Fernandes and Board of Trustees Chair Shelby Chestnut jointly wrote that the HLC identified “enrollment management, financial sustainability and diverse revenue streams, continual monitoring of financial progress and long-term plan of financial progress” as “areas of continued effort and concern,” but that no other action is required from the college at this time.
The HLC requires the college to include an update on its financial situation as part of its regularly scheduled reaccreditation report next year.
The full letter from Fernandes and Chestnut may be read in last week’s page 4 “Community Forum” section of the News.
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