A century-old university in suburban St. Louis will shut down next year, its president said Monday, citing declining enrollment and ongoing budget problems. Fontbonne University, in Clayton, was founded by the Sisters of St. Joseph of Carondelet in 1923, first as a place to educate young Catholic women. Enrollment for the fall semester was 874 students, including 650 undergraduates. A decade ago, Fontbonne's enrollment was about 2,000 students, the St. Louis Post-Dispatch reported. University President Nancy Blattner said in a statement that Fontbonne will not accept freshmen for the fall 2024 semester, but will continue with classes through summer 2025. University leaders will work with faculty and staff to help them find new positions elsewhere, she said.