Sweet Briar College, a 114-year-old, all-female liberal arts school, won't be closing its doors after all.
The news comes after a judge approved a mediated settlement Monday to keep the historic institution open.
Many current and former students were brokenhearted in March when Interim Sweet Briar President James Jones announced the school would be closing due to insurmountable financial challenges and decreased enrollment.
"I didn't believe it. How could a school just close?" student Jessica Barry asked. "No one's giving us straight answers, and we're betrayed by the people we're supposed to be putting our trust in."
But alumnae, students and faculty refused to take the news lying down, launching a non-profit group called Saving Sweet Briar to keep the school open.
Their efforts were rewarded Monday when lawyers from all sides united to convince County Circuit Court Judge James W. Updike Jr. to give a rescue deal his approval.
Sarah Clement, chairwoman of Saving Sweet Briar, called it "an answer to the prayers for many and a powerful validation of the value of fighting for what you believe in."
As part of the settlement, the non-profit group agreed to give $12 million for the school's operation for the 2015-2016 year, the Washington Post reports.
In addition, at least 14 current board members will be stepping down, and 18 new board members will be selected.
"As the transition process advances, and Sweet Briar's anticipated new leader Phillip Stone prepares to take office, Saving Sweet Briar will be working closely with the college and incoming leadership to help answer critical questions for our students, their families and for faculty and staff," Clement said.
Meanwhile, Sweet Briar issued the following statement on the settlement:
"While the current members of the board will be stepping down as part of this settlement, all of the directors offer their best wishes to the college's new leadership and the assurance of any support that may be requested."
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