Loretto’s President – Sister Helen Timothy – says the mood on campus was somber after the closure was announced Tuesday.
“The girls were very tearful and very upset. We’re devastated but it just couldn’t be avoided. This is the period that we’re living in.”
That “period” being the economic downturn. Sister Timothy says the recession has led to a sharp drop in enrollment. It’s declined by nearly 200 students in the past few years. She also says increased competition from other private and charter schools has also impacted enrollment.
The religious order known as the Institute of the Blessed Virgin Mary –which owns the school – is expected to sell the campus after the end of the school year.