Staying alive: Keystone College takes another step forward with prospective partner

JIM LOCKWOOD, The Times-Tribune, Scranton, Pa.
·3 min read

LA PLUME TWP. — Financially struggling Keystone College announced Friday it took another step forward in preventing its closure by signing a “letter of intent” with a prospective partner.

The college and still-unnamed partner intend “to form a new alliance that provides Keystone with a more secure roadmap for a long-term path forward,” the announcement said. “Both parties have agreed to keep the name of the partner and details of the agreement private at this time.”

Both sides also still have not reached a definitive agreement, but the letter of intent is a step toward that goal, the statement said. An agreement would require approval of the college’s accreditor, the Middle States Commission on Higher Education, which has been notified of the parties’ intentions.

The state and federal departments of education and the Pennsylvania Office of the Attorney General also would have to approve the partnership, the college said.

“Any substantive organization change proposed within the Letter of Intent would need to be approved through the PA Office of the Attorney General,” said Tim Pryle, Keystone’s vice president of enrollment, institutional advancement, and marketing. This was a similar component of the previous agreement which the College and the potential partner at that time, the Washington Institute for Education and Research, walked away from.

Review of new arrangement could take up to a year to complete, the college said. Meanwhile, Keystone intends to continue operating classes, activities and intercollegiate sports, and continues to accept and enroll freshman and transfer students for the Fall 2024 semester, the announcement said.

“The executed agreement stipulates that day-to-day operations of the college and its academic mission will remain essentially unchanged. Additional details will be made available after reviews by the necessary accrediting and regulatory agencies,” according to the announcement.

Talks over the past two months “solidified a collective determination to secure a path forward for Keystone” to continue, “while also seeking to expand opportunities for a diverse array of learners across the ever-changing landscape in higher education,” Keystone President John F. Pullo, Sr. said in a statement.

On the verge of closing and losing accreditation, Keystone in recent months has been negotiating a partnership with an unidentified investor to keep the college afloat. Keystone provided on May 15 to the Middle States Commission an updated “teach-out plan” for a potential closure and transfers of students elsewhere to complete their educations.

The commission also next requires a report by Aug. 1 demonstrating why accreditation should not be withdrawn.

A day before the 153rd graduation held May 18, the college announced it was very close reaching a deal with a partner.

“While we understand the necessary work going forward, we are grateful for this commitment to continue the 156-year legacy of Keystone. The challenges that face many colleges and universities across the country are well-reported and are causing disruption within the industry,” Pryle said. “Keystone is extremely fortunate to be bolstered by this strategic alliance as we look forward to continuing to offer all of the opportunities and benefits of a Keystone education.”