Founded 45 years ago as the single Diocesan Catholic High School in Albany, Bishop Maginn High School will close at the end of this school year due to continued low enrollment and the rising costs of education, the Roman Catholic Diocese of Albany announced on Wednesday afternoon.

In a statement, the diocese said the school has experienced significant financial difficulties because tuition and fundraising have not covered operating costs for many years.

"The Diocese, through its broad support of Catholic Education, has assisted Bishop Maginn financially, but with the Diocese confronted with its own financial stresses brought on by the pandemic and other factors, it can no longer do so," the statement reads.

Catholic Central School in Latham and Notre Dame-Bishop Gibbons School in Schenectady will honor existing tuition arrangements of Bishop Maginn students and families, the diocese said. It is working to find Bishop Maginn’s 16-member faculty and staff jobs at other Catholic schools.

“As superintendent of schools and a Class of 1999 graduate, my commitment and investment in Bishop Maginn is both personal and professional, making this one of the most difficult set of circumstances during my tenure,” Diocesan Superintendent of Schools Giovanni Virgiglio said.