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RENSSELAER, Ind.— The head of a private college in northwestern Indiana says it might close if it doesn’t raise at least $100 million before June.

St. Joseph’s College President Robert Pastoor sent a letter to the campus community Wednesday saying the Catholic school needs a cash influx of $100 million and commitments totaling $20 million by June 1 to serve its roughly 1,200 students.

The (Lafayette) Journal & Courier reports the letter called the financial challenges “dire” and said the board of trustees will meet next week to discuss options for the college’s future

An accreditation agency, the Higher Learning Commission, in November placed the college on probation until 2018. The commission cited concerns including those related to “resources, planning and institutional effectiveness.”