DAYTON, Ohio - An area school will reopen after a group of alumni come to the rescue.

Antioch College in Yellow Springs  has been closed because of financial problems, but an alumni group has a conditional agreement to operate the school and reopen in two years.

The group agreed to pay parent Antioch University $6 million for the campus and the college's endowment. The school is suffering from declining enrollment, a heavy dependence on tuition, and a small endowment.

The college in Yellow Springs is the flagship of Antioch University. The institution has campuses in Seattle, Los Angeles, Santa Barbara, Calif., and Keane, N.H.

The agreement is contingent upon approval from the Ohio attorney general's office and university bond holders.