Finlandia University in Hancock is a private, Lutheran school established by Finnish immigrants in 1896. Its Board of Trustees released a letter Thursday stating the university will not enroll students for the coming academic year.
Officials said fewer high school graduates, lower interest in attending college, and an unbearable debt load were factors in the decision to shutter the school.
Finn-U has teach-out agreements with four other universities and is finalizing a fifth with Northern Michigan University.
Staff layoffs are expected to begin immediately.