Closed School Information
Effective January 27, 2024, the Long Island Business Institute (LIBI) has permanently closed.
It is with a profound sense of sadness that we announce the permanent closure of the Long Island Business Institute (LIBI), effective January 27, 2024.
Over the course of 55 years, LIBI has been an invaluable institution, serving as a beacon of higher education for our local communities. Thousands of alumni have passed through our halls, and the impact of the college has been felt in the countless lives transformed through the pursuit of higher education.
As we bid farewell, we reflect with immense pride on the legacy of excellence that LIBI has established. The college has been a cornerstone of educational advancement for the underserved by higher education communities, contributing significantly to the intellectual and professional growth of its students.
To our alumni and the students directly affected by this closure, we extend our heartfelt best wishes for success in all your future endeavors. While LIBI may have reached its conclusion, the indelible mark it has left on the landscape of higher education will endure as a testament to the transformative power of knowledge.
In closing, we express our deepest gratitude to the faculty, staff, and students who have been an integral part of the LIBI community. Together, we have created a tapestry of learning, achievement, and shared experiences that will remain etched in our hearts.
–LIBI Administration
The following information is provided to assist students and graduates:
How can I obtain a copy of my transcript?
All LIBI student transcripts have been transferred to Five Towns College. Students looking to obtain a copy of their transcripts should contact the registrar staff at Five Towns College by emailing or calling:
Email: [email protected]
Phone#: 631-656-2144
I went to PBC and LIBI had my official records from that college. Where can I obtain a copy of my PBC transcript now?
LIBI has transferred all PBC transcripts to Five Towns College. Former PBC students should contact the Five Towns College registrar staff by emailing or calling:
Email: [email protected]
Phone#: 631-656-2144
Completing Your Education
The Board of Directors made the decision to close the college, but we want you to know that the decision was not made lightly. We want all our students who did not get to complete their education with us to continue their educational journeys with schools that have agreed to be our teach out partners.
Below are the agreements that LIBI has signed with SUNY Empire and Five Towns College to make sure that you are able to finish your education with minimal disruption.
All Programs, Excluding Court Reporting
Please note that current LIBI students will be offered initial enrollment at EMPIRE STATE UNIVERSITY for its Spring 2024, Summer 2024, or Fall 2024 academic terms and must complete their studies by June 15, 2025. Current LIBI students who do not initially enroll at EMPIRE STATE UNIVERSITY for the Spring 2024, Summer 2024, or Fall 2024 academic terms, will not have the option to complete the degree program they were pursuing at LIBI. However, LIBI students who initially enroll after the Fall 2024 term, or do not complete their degree during the teach-out period, may enroll in any of EMPIRE STATE UNIVERSITY’S other degree offerings for which they are eligible.
EMPIRE STATE UNIVERSITY will accept all earned credit (inclusive of those credits earned at LIBI and those credits awarded by LIBI based on LIBIs’ completed evaluation of applicable credit).
If you have questions, please contact Linda Buncom at [email protected]
Court Reporting Program Only
FIVE TOWNS COLLEGE
The teach out opportunity shall be provided to all current LIBI Court Reporting students and those who last attended LIBI as Court Reporting students within one year of the effective date of the closing. The College may provide the Teach-Out Opportunity to students whose last date of attendance was beyond the one-year effective date of the closing, if it determines, in the exercise of its educational discretion, that the student can meet the educational goals and objectives of the program offered by College.
Tuition and Fees
Five Towns College shall establish the tuition and fee structure for this program in the exercise of its sole discretion. However, College will offer a scholarship/grant to all current LBII students who transfer to Five Towns College within six months of the closure of LIBI, so that the net cost of tuition is the same net cost paid by them at LIBI. The College shall continue these scholarships/grants to these LIBI students for a minimum of six semesters, provided that former LIBI students meet the standards required for the Tuition Lock Guarantee program offered to College’s own students as follows:
- Minimum GPA of 2.0;
- Continuous enrolment during all standard periods of enrolment, except for those on an approved Leave of Absence;
- Ontime re-registration for each subsequent semester during the regular registration period;
- Fulfillment of al financial obligations to the institution by published deadlines and the implementation of late registration fees; and
- Maintenance of full-time status, except with the approval of the Dean of Students.
US Department of Education
If you need assistance from the Department of Education, please reach out to them at https://studentaid.gov/feedback-center.
The United States Department of Education (USDOE) has created a webpage to assist students whose institution has closed. See the Has Your School Closed? webpage.
Other specific USDOE links that may be useful are:
Closed School Loan Discharges | Federal Student Aid
https://studentaid.gov/manage-loans/forgiveness-cancellation/closed-school
1098–T – Questions and Important Information
1098T Forms will be mailed to students for 2023 on or before the IRS deadline of January 31, 2024.
To obtain additional copies or for further information please contact [email protected].
New York State Education Department
https://www.nysed.gov/college-university-evaluation/closures-degree-granting-institutions
Accreditation
LIBI has voluntarily withdrawn its recognition through the Accrediting Commission for Community and Junior Colleges (ACCJC) effective January 27, 2024.