A Cash Crisis and Collapse

This fall, leaders at Saint Joseph’s College in Rensselaer, Ind., had a plan to avoid a financial crisis and accreditation crunch bearing down on them. The Roman Catholic liberal arts college started negotiations to license out windmill-filled farmland it owns. Leaders approached the Mayo Clinic in August. But negotiations hit a roadblock in December. The stalled negotiations set off a chain of events that led to Saint Joseph’s announcing a suspension of operations on its campus after the end of the current semester.