EVERETT, MASS. (WHDH) - Everett’s Pope John XXIII High School will officially close its doors for good after facing a financial crisis.

The 54-year-old Roman Catholic preparatory institution was trying to raise more than a million dollars that was lost when United Schools Association stopped making payments to the school for dormitory space it was leasing for international students.

Headmaster Carl DiMaiti said in a letter to parents and guardians that “this is a challenge we are simply unable to achieve.”

The school plans to return all donations in full.

“I expected to graduate from here,” said student Ashley Valle. “So it’s sad. At first nobody believed it, we were like, oh it’s a lie, there’s no way that we’re losing that much money.”

The mood was somber following a school awards ceremony. Some students say the principal was in tears.

Administrators are now focusing on helping students and their families transition to a new school in the fall, along with working with staff and faculty to find them positions for the next academic year.

“This news is not a reflection on the Pope John XXIII community,” DiMaiti wrote in his letter. “We have many fond memories to keep and many wonderful alumni who have gone on to demonstrate the values and character of faith we have seen firsthand with our students.”

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