Administrators at Davenport’s Marycrest International University announced Monday the school will fold after the University trustees voted to close the school June 30th of 2002. V-P Jeff Ashcraft says the reason is an economic one, as enrollment hasn’t increased enough to make up losses. Marycrest and Westmar College were acquired eleven years ago by a Japanese university, but there have been financial and accreditation problems ever since, and Westmar closed in 1997. Marycrest staff and faculty got the news Monday morning, just hours before the public announcement.He says many have been at the school for years, knew there was a problem, but still found it a shock. It’s news to the student body, too.Word didn’t come till too late to tell kids going home for break. Ashcraft says letters will go out to students and their families, and there will be a meeting for any who can attend, tonight at 6 on campus. Spring term classes that end in June will be the last at Marycrest.The school’s talking with others so students can transfer, their academic credits so far will be accepted, and they can graduate at some other university. Marycrest was on academic probation for the second time when this week’s announcement was made. Ashcraft says there is no new buyer or investor in sight to take over the school, which first opened in 1939.