Indeed so - I did my theology BA there. They were doing well academically, in fact having gained their own degree-awarding powers, but not financially. If you look at their accounts over the last few years you'll see that they were posting something like a £m/pa deficit which, despite the selling off of some assets, was unsustainable. Their liquid reserves had almost dried up so, when a charitable trust pulled the plug on them a couple of weeks ago, the end was inevitable.
It's worth pointing out that, unlike in some other denominations, Baptist ministerial students are self-financing - i.e. they're not paid for by the denomination. They had many non-ministerial students (and some innovative courses) but, again, these had to pay their way. It's clear that the gap between income and expenditure was unbridgeable.
That is very sad news @MMM, though it's nice to see your avatar pop up. I knew the librarian back in the day when I worked in a religious education resource centre.
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It's worth pointing out that, unlike in some other denominations, Baptist ministerial students are self-financing - i.e. they're not paid for by the denomination. They had many non-ministerial students (and some innovative courses) but, again, these had to pay their way. It's clear that the gap between income and expenditure was unbridgeable.