Concordia College Alabama will close its doors at the end of the spring semester. The Selma Times-Journal reports the faculty, staff and the student body were informed of the decision last week. Dr. James Lyons delivered the news. He’s the college's chief transition officer and interim president. The school was founded in 1922 and has a current student population of around four hundred. It is Selma's only four-year college accredited by the Southern Association of Colleges and Schools Commission on Colleges. Concordia has faced rumors of closing for a number of years due to the school's financial hardship. Dr. Lyons says the board had been working to solidify the situation but couldn't find an investor. He says raising tuition was not an option for the school to offset operating costs.