
The college has announced that it may be forced to cancel classes this fall if it cannot eliminate a $250,000 deficit. The college had been receiving a $750,000 annual grant from the federal government, but that grant was not renewed.
To alleviate its financial problems, the college had hoped to merge with Endicott College in Beverly, Massachusetts. But that prospect no longer exists. The Urban College of Boston hopes to find private donors to close the budget shortfall or to form a partnership arrangement with another educational institution or nonprofit organization.
Update: On July 30, the college announced that it had received enough financial backing to remain open this fall


