The lack of funding threatened the future of the College of Saints John Fisher & Thomas More in Fort Worth, Texas, but a group of students were able to raise enough money for the school to keep its doors open, CBS News reported.
After hearing about the university's financial troubles, students initiated a crowdfunding project, a "trendy new" way to raise money online, in an effort to keep the school open. They started a webpage on GoFundMe.com with a goal of raising $250,000.
"It was really scary for all the students," first-year student Amber Siscoe told CBS News. "We decided we wanted to see if we could do something to try to keep the school going."
They exceeded their goal and raised more than $297, 000 in just 13 days.
Michael King, president of the university, said the school had no idea students would start a fundraising effort to save the school.
"Unbeknownst to us they started this initiative," King told CBS News. "They saved the school, literally."
The small Catholic college recently changed locations so it could expand and serve more students.
It also only charges $5,000 a semester - for everything. The college fell behind on its bills because of its refusal to raise tuition after the location change.
"Despite good efforts and a lot of encouragement and support we feel short on our fundraising goals for the first semester," King explained. "It put the second semester in jeopardy."
The college had many private donations lined up to help keep it open, but that money fell through and that's when the students got involved, CBS News reported.
Siscoe said she hopes the fundraising efforts help the campus stay open permanently.
"For me this is one of the only places I can go to college. We [students] are just hoping that we keep it going," she said.
Students said they will continue with the fundraising efforts to help the college with the costs for next year.
