Limestone University in South Carolina graduated its final class this spring after a last‑ditch fundraising effort fell short. Founded in 1845, the private institution cited prolonged financial distress and an inability to stabilize enrollment and revenue as central reasons for the closure. Coverage traces the college’s financial turmoil across decades and describes how recent declines in enrollment and failed capital initiatives made continued operations unsustainable. The campus had weathered past suspensions of operations but could not recover this time. College closures highlight operational vulnerabilities at small private institutions—revenue concentration, sensitivity to enrollment swings, and limits on endowment buffers. The Limestone case will be studied by boards and state higher education policymakers as they weigh consolidation, partnership and emergency support strategies.