Martin University abruptly announced it has closed and begun selling assets, citing rising costs, falling enrollment and mounting debt in a board letter published by the Indianapolis Recorder. The predominantly Black institution—founded in 1977 and enrolling 223 students in fall 2023—paused operations in December and saw its accreditor direct it to cease operations after the board suspended classes. Students and alumni report difficulties accessing transcripts and graduation services, highlighting operational and student‑service risks at colleges that shutter mid‑term.