The Institute of The Blessed Virgin Mary will close the all-girls school in June, forcing students to find another school and laying off most of the 57-employee staff. Some employees will choose to retire.
“It has always been our hope that the tradition of excellent academic education and spiritual development for young women could continue,” Sister Rosemary Lynch said in a news release. “However, the declining enrollment and current financial picture make it impossible for us to provide the type of education that has become the hallmark of Loretto High School.”
Current and former students established a Save Loretto Steering Committee in an effort to help save the school at 2360 El Camino Blvd payday loan online., between Bell Street and Fulton Avenue.
Enrollment at the college-preparatory school is 389 students this year, compared to 560 students three years ago. This year, 80 girls took the entrance exam, compared to the average of 175 in recent years.
“Our decision to close at the end of this school year remains firm,” Lynch said. “We hope now that all can move forward.”
The 10-acre campus has been placed on the market, and appraised at $10.3 million. The school has about 63,800 square feet of buildings.
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