HANCOCK, Mich. (Michigan News Source) – A long-standing university in the Upper Peninsula will no longer be accepting students and will eventually close its doors.

Finlandia University in Hancock announced late last week that it will close at the end of the semester. The school had been a fixture of the Copper Country since its founding as Suomi College in 1896.

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The board cited multiple reasons for closing the private university, including fewer students and an “unbearable” debt load.

Other universities are working with Finlandia and outlining plans to accommodate current Finlandia students next year.