Antioch leaders will present an outlined proposal to its board of trustees on March 15, according to the college.
The school has hired consultant Stefano Falconi of Berkley Research Group to advise on the reorganization. Falconi has previously held top financial positions at Carnegie Mellon, Simmons College and the Stevens Institute of Technology, among other institutions, according to the college.
“Change is never easy, but bringing Antioch College forward must remain our shared imperative if we intend to persist and thrive,” Antioch president Tom Manley said in a prepared statement.
The budget realignment comes as the school finished an internal strategic planning process that began in 2016, when the school also received accreditation again.
Antioch College separated from the Antioch University system in 2008, when the then-parent organization decided to close the school due to enrollment declines and financial issues. In 2009 a group of alumni formed a nonprofit corporation to bring back the college which then reopened in 2011.
After reopening, Antioch offered free tuition to its first few classes in order to attract new students. Enrollment has remained low though, with fewer than 200 students on campus down from the school’s high point of around 2,000, officials have said.