The higher ed bubble has finally burst for this all women college in Virginia.

Eric Owens of the Daily Caller reported.

This $47,095-Per-Year College Will Shut Its Doors FOREVER This Spring

Sweet Briar College, an all-female bastion of the liberal arts since its founding in 1901, announced on Tuesday that it will permanently cease operations when the current academic year ends.

The surprising move for the school, which boasts a $94 million endowment, has come as a shock among comfortably-ensconced higher education bureaucrats on campuses everywhere, Inside Higher Education reports.

All employees at the tiny Southern Virginia college will lose their jobs (though school officials hope to offer benefits and severance pay). All 730 or students who don’t graduate in a few months will need to enroll somewhere else.

Sweet Briar has many laudable attributes: small class sizes, professors who know your name and a campus brimming with cool traditions.

However, it has faced declining enrollment. Interest in the liberal arts is dwindling. Interest among college-aged students in attending a women’s college has decreased. Also, students are increasingly loathe to spend four years in rural locations such as Sweet Briar’s in the foothills of the breathtaking Blue Ridge Mountains.

A high price tag has also proven highly problematic. Like at most private colleges, the cost of attending Sweet Briar is very high. The total price for tuition, fees and room and board this year is $47,095, according to the school’s website. (As of early Wednesday morning, Sweet Briar webpages addressing tuition showed the words “503 Error” and “Page not found.”)

Though most students don’t pay the full sticker rate in the bizarre world of college pricing, Sweet Briar and other private colleges must offer large scholarships and grants because of their steep tuition. In recent years, Sweet Briar has been forced to cut such financial aid, resulting in fewer students enrolling.

School officials said the decision to shut down was a hard one, but they concluded they had no other choice.