Chicago Theological Seminary is closing the door to new degree-seeking students, at least for now, as leaders scramble to steady the South Side school’s shaky finances.
The seminary announced Wednesday that it will pause admissions to its degree programs, including the Master of Divinity and Master of Arts, while trustees carry out a board-approved strategic planning process aimed at stabilizing the institution’s budget. The move comes as the school grapples with shrinking enrollment and growing operating losses.
Financial records reviewed by the Chicago Tribune show the seminary has posted multimillion-dollar deficits in recent years, including an operating loss of about $1.8 million for the year ended June 30, 2024, and about $1.4 million the following year. The documents also show a net cash outflow of roughly $3.3 million. In response, trustees have outlined contingency plans that include potentially selling valuable assets, staging fundraising events and cutting some positions to shore up operating cash.
Enrollment has taken a clear hit. Federal IPEDS/NCES figures indicate that the school’s fall headcount dropped from about 297 students in 2023 to roughly 215 in fall 2024, a decline of about 27 percent, undercutting tuition revenue that has traditionally covered a large share of expenses, according to data from NCES IPEDS.
President Brad R. Braxton said in a statement to the Chicago Tribune that the institution "decided to cease admissions while it undergoes a board-approved strategic planning process." He added that Chicago Theological Seminary will make sure currently enrolled students "have a clear, supported path to finishing their degrees."
South Side Campus and History
Founded in 1855 and historically affiliated with the United Church of Christ, Chicago Theological Seminary sits near the University of Chicago in the Woodlawn/Hyde Park area at 1407 E. 60th Street. The seminary’s website highlights its long-standing social-justice mission even as trustees continue the strategic review, according to Chicago Theological Seminary.
A Broader Squeeze on Theological Education
The Chicago school’s move fits a national trend in which many small, tuition-dependent theological institutions have been selling campuses, merging or redesigning degree programs in order to survive declining Master of Divinity enrollments and rising costs. Some seminaries are shifting to online, partnership or hybrid models instead of traditional residential programs, as reported by Christian Century.
Trustees have not set a firm timetable for the strategic planning effort, and administrators say they will update the community as options are evaluated. For now, classes are still in session, and leaders say they are concentrating on helping current students complete their programs while weighing structural changes to preserve Chicago Theological Seminary’s mission.
