The final blow was the cyberattack, which prevented the instution’s admission activities and access to data.
Lincoln College explained that the cyberattack “created an unclear picture of Fall 2022 projections. All systems required for recruitment, retention, and fundraising efforts were inoperable.”
The institution said its systems were fully restored in March and no personal information was compromised. However, its enrollment suffered “significant shortfalls” and it needs help to survive.
In April, Lincoln College President David Gerlach told the Chicago Tribune that the institution paid a ransom of around $100,000 to regain access to its data. He also stated that it needs $50 million to continue its academic programs.
Lincoln College tried its best to strengthen its financial position by selling assets consolidating employee positions and exploring alternatives for its leased building in Normal. Its “efforts did not create long-term viability” amid the pandemic.
Gerlach stated, “Lincoln College has been serving students from across the globe for more than 157 years. The loss of history, careers and a community of students and alumni is immense.”
