Martin University’s board has confirmed the institution will shut down after a brief pause in operations, ending months of uncertainty for students and staff. Trustees said declining enrollment, mounting debt and higher costs left the private Indianapolis university without sufficient operating cash to continue. Martin—the only predominantly Black institution in Indiana—paused operations in December, terminated staff and urged students to transfer. Auditors had repeatedly warned the school of financial risks, and state funding lapses in recent cycles compounded pressures. The university’s accreditor was reported to have instructed the school to cease operations; HLC later noted a voluntary resignation of accreditation. Campus leaders and nearby institutions are coordinating teach‑out plans and individualized student support; at least one agreement with the University of Indianapolis is reported. The closure contributes to a broader wave of small-college exits in 2025–26 and will redistribute a vulnerable student population across regional campuses. Administrators, accreditors and state officials are likely to face renewed scrutiny over oversight of financially fragile institutions and the adequacy of early warning mechanisms.