Briarcliffe College plans to close by the end of 2018.
Newsday says the decision was announced in school emails and a notice filed with the state Labor Department.
The for-profit Long Island school has campuses in Bethpage and Patchogue and runs an online degree program. It cited economic difficulties for its decision.
Enrollment has decreased 50 percent in less than 10 years.
All 294 employees will be laid off by the end of 2018.
The Bethpage campus will close in April 2018 and the Patchogue campus and online program will cease in December 2018.
The school's Illinois owner, Career Education Corp., has tried unsuccessfully to sell the school. Newsday says it couldn't be reached for comment on Monday.
Copyright AP - Associated Press
