(Seven Hills) — One of northeast Ohio's oldest colleges has closed for good.

School officials didn't cite a reason in announcing Monday that Chancellor University in the Cleveland suburb of Seven Hills has been shuttered.

The Plain Dealer reports that the school is transferring its several hundred students to Alliant University, a California-based private school.

The newspaper said the closing follows a long period of accreditation and financial problems for the school.

The university began as Folsom's Business College in 1848, boasting graduates such as John D. Rockefeller Sr. and Harvey Firestone, before it underwent a series of mergers and other changes through the years.

It was purchased out of bankruptcy in 2008 and became the for-profit Chancellor University, offering most courses online.

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