Lincoln College in Illinois is forced to permanently close its doors after a ransomware attack at the end of last year. The attack caused such damage that fundraising was no longer possible.
According to the college, the ransomware attack caused such damage to data and systems that recovery took too long. Lincoln College did not have access to the application processes and the number of applications for the fall 2022 semester.
In addition to the systems for student recruitment and retention, the college had no insight into the data needed for fundraising. All this made it impossible to raise sufficient funds and continue operations. According to the college’s management, no personal data was captured in the ransomware attack.
More financial problems
The ransomware attack proved to be the final blow to the college, which already faced major financial problems due to the pandemic. The school had a record number of registrations at the beginning of this academic year, but COVID measures and technological requirements proved far too expensive. Also, many students postponed their studies because of the pandemic, which added to the financial woes.