St. Joseph's will "temporarily" close? How does a college close "temporarily"? If it is out-of-business, then it is out-of-business. 

The odds seem pretty good that it is closed permanently. If it reopens, just who do they expect will spend private tuition costs for a financially insolvent college? 

I suspect this institution is toast -- finished as a college forever. Time to liquidate assets and/or re-purpose the facilities.