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OAKDALE, N.Y. (AP) — A state senator says Dowling College on Long Island is on the brink of closing after a deal to rescue the financially troubled liberal arts school hit a dead end.
Kenneth LaValle, the chairman of the Senate Higher Education Committee, tells Newsday (http://nwsdy.li/245Wja9 ) Dowling's fate is currently on a "day-to-day" basis.
He says officials struggled over the last four days to avert a crisis that allowed the Class of 2016 commencement to take place last Saturday.
A state Board of Regents official says Dowling is about $54 million in debt and needed an "emergency infusion of cash" last week.
Dowling President Albert F. Inserra insisted "no infusion" of cash was needed. He did not elaborate.
Dowling is among a growing number of small liberal arts colleges facing similar difficulties.
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Information from: Newsday, http://www.newsday.com
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