A proposed state budget would, in part, create post-tenure reviews at public colleges and give the governor full control of Indiana University's board.
Faced with grant delays and terminations, the university has created two new programs, partly funded through earnings on its endowment.
Republicans say the plan would save $330 billion and spur institutions to lower costs, but Democrats argue it would create barriers to college.
The North Carolina liberal arts institution’s president said that “financial sustainability is no longer attainable” and it will close May 5.