MOUNT PLEASANT, Iowa -- The future of Iowa Wesleyan University hinges on a potential vote on Nov. 15.
The Board of Trustees will meet "to consider the future of the institution," a letter from the university's president, Steven Titus, stated.
This vote comes after the university faces "significant financial challenges."
"We have struggled, yet survived, for decades because of our strong commitment to our students and the southeast Iowa region," the letter states.
However, Titus went on to write that, despite increasing student retention and enrollment, the university does not have a healthy endowment or extensive donor network. This means that donated funds are low, and few people are donating.
"At this moment, the university does not have the required financial underpinnings to bridge the gap between strong enrollment and new programming, and the money needed to keep the institution open," Titus wrote.
Shelby Bride, a first year student at the university, said she can't imagine going to school anywhere else.
"The thought of our school closing is devastating," Bride wrote in an email to News 8.
If the board decides to vote on Nov. 15, the university only has until then to figure out how to raise enough money.