Accepted and enrolled students say they were blindsided by Anna Maria College closing in Paxton, Massachusetts

Students were overjoyed to receive their acceptance letters to Anna Maria College in Paxton, Massachusetts, but only a few days later, the school announced it would be shutting down.

Matthew Scotland dreamed of attending the school and had just received a $23,000 scholarship on Tuesday. 

"He texted me, and he's like, 'Mom, they closed the college,' and I'm like, 'What are you talking about?'" Matthew's mom, Krystal, said. "Oh, I was heartbroken for Matthew. I shed some tears and was like, 'Oh my God!"

Scotland felt blindsided by the closure and said there were never any warning signs that the school was in trouble. 

"My biggest fear is that he's not going to be able to get the education that Matthew deserves to get, and that he worked hard to get, and you know he didn't deserve any of this," Scotland explained.

The school's president, Sean Ryan, and the Board of Trustees issued an apology to the community. 

"The decision reflects years of financial pressure that we were ultimately unable to overcome, and the honest recognition that continuing would not be responsible to the students, faculty, and staff who depend on us," Anna Maria said in a statement.  

Former Massachusetts Secretary of Education Paul Reville said it is a "precarious time for private and smaller institutions of higher education."

"There's something called the Financial Assessment and Risk Monitor Act that requires them to look into the fiscal stability of institutions," Reville said.

But students who attend the school, like freshman criminal justice major Hannah Pratt, said the news came as a shock to students on campus in the midst of finals. She said there's a lot of pressure to figure out where she's going to go next. 

"It's all coming to an end so fast," Pratt told WBZ-TV. 

Regis College in Weston has partnered with Anna Maria and said they will accept students who have been impacted and want to transfer over. Regis will also store all important academic information for alumni, including transcripts and degree certifications. 

Pratt and Scotland said they are considering the option.