Lon Morris College is the oldest junior college in Texas. Offering core curriculum classes in many subject areas, the college now faces the threat of closing its doors to some 350 local students. However, efforts are being made to save its educational operations by resolving its debts in Texas bankruptcy court.
Learning A Lesson In Finance
Founded in 1854, the college was originally an academy for females. Having changed names, locations and curriculum over several years, the college finally settled into its current role by 1909. As one of few junior colleges in the area, Lon Morris College plays a vital role for university hopefuls in many nearby communities. In July, Lon Morris College made the decision to enter Chapter 11 bankruptcy in order to restructure its debt burden and regain control over its finances.
The college has announced that classes are scheduled to operate as planned for the Fall semester. College officials also have reassured students that tuition rates will continue to remain at their current levels, but to expect some changes in upcoming semesters. Lon Morris is hoping to gain an alliance with another educational intuition for financial support and may cancel some programs, like the athletic division. Curriculum changes and a drop in financial aid programs are also expected as part of their debt restructuring efforts.