After 95 years, AIB College of Business closing Thursday

For 95 years, AIB was in the business of teaching business but on Thursday that ends.

The school announced plans last year to become part of the University of Iowa.

Private colleges everywhere are experiencing financial difficulties, but the AIB president said that was not the case for them. Nancy Williams said it's just the right time to move on.

The school's last graduation ceremony was held in May, handing out about 400 degrees.

AIB is gifting its 20 acres of land and 16 buildings -- worth more than $21 million, to the University of Iowa.

AIB has been donating equipment, furniture, books and other material to organizations in the Des Moines metro area from cities to libraries to churches and more.