Inside the financial problems that led to Martin University’s closure

Martin University in Indianapolis abruptly ceased operations on December 8, 2023, after its interim president, Felicia Brokaw, informed staff the institution was insolvent and unable to pay salaries. Employees, including former financial aid director Jennifer Anderson, had been reassured in October that the university would remain open through spring 2026, but leadership failed to disclose worsening financial struggles, including reliance on federal funds to meet payroll. The closure left students scrambling to transfer, with many facing delays in financial aid refunds or blocked access to funds due to Martin’s pre-approved disbursements for the academic year. Some students never received surplus aid money owed to them, while others found their federal aid accounts frozen at Martin, preventing enrollment at other institutions. The university’s board voluntarily surrendered its accreditation on December 30, 2025, eliminating eligibility for federal financial aid. Investigations revealed months of financial distress, with leaders failing to communicate the severity of the crisis to employees, students, or alumni. Former student Dewayne Whitney criticized the university’s board for allegedly knowing about the closure long before it was announced. By May 2024, Eastern Star Church acquired Martin’s campus and surrounding properties for $1.8 million as part of its ROCK Initiative, finalizing the purchase on May 8. The university’s collapse highlights systemic issues, including delayed financial aid processing and a lack of transparency. Students and employees allege they were kept in the dark about the institution’s dire financial state, with some laid off without severance or final paychecks. The closure marks the end of Martin University’s 120-year history, leaving lasting impacts on its community.