Dowling College, a small, private institution on New York’s Long Island that had announced plans to close, will remain open for now, the Associated Press reports. On Wednesday the college posted a statement on its website saying that its trustees had rescinded a motion to shut down the institution, which is reportedly $54 million in debt.
“The college is currently engaged in sustained strategic negotiations with Global University Systems (GUS) for the purpose of creating an academic partnership that could possibly permit the college to continue operating,” the statement said.
Global University Systems, a for-profit company based in the Netherlands, owns the London School of Business and Finance, among other institutions.
Dowling was one of three small colleges that last month announced plans to close.