Martin University, Indiana's only predominantly Black higher-education institution, is winding down operations and selling off assets after financial issues forced its leaders to pause classes indefinitely.
The Indianapolis Star reports that the university's board of trustees says that "declining enrollment, increasing costs, and accumulated debt" led them to pause operations mid-December. But specific details remain scant about the financial collapse that seems likely to lead to Martin's permanent closure.
The university in Indianapolis is selling assets to pay off debts as it moves toward closure, trustees say. But it's premature to say that Martin is permanently closed, said Keona Williams, a university spokeswoman.
The campus' assessed value in 2025 was about $13.1 million, according to property tax records.
Deciding to pause operations has jeopardized Martin's accreditation with the Higher Learning Commission [HLC], an independent agency that certifies the quality of colleges and universities nationwide. On Dec. 31, trustees voluntarily resigned Martin's accreditation, an HLC spokeswoman says.
While Martin is moving toward closure, trustees hinted that they're leaving the door open to outside intervention to prevent that fate.
"Even as we wind down operations, we remain open to supporters who are willing and able to assist in meaningful ways — financially and through enrollment — consistent with the fiduciary responsibilities we hold," Martin trustees said.
Founded in 1977, the private university had about 220 students in 2023, according to enrollment data. The university previously said a "large majority" of its students were African American women over the age of 25.
The university is setting up ways for students to finish their studies elsewhere. For instance, the HLC has approved a program for Martin students to continue coursework at the University of Indianapolis.
