Monroe Academy students and parents were told at a meeting attended by over 400 on Thursday, December 18 that some $400,000 in donations was needed in order to keep the school open through the 2008-2009 school year. Headmaster Martha Krepps told the group borrowing from a bank was not an option because of the economy and the feeling was there was no business plan in place to pay it back.The school had been in negotiations with Rock Springs Church regarding the purchase of the campus but that deal fell through.Enrollment at MA has been in decline over the past five years. Currently there are 180 students. Krepps said a minimum enrollment of 250 is required for survival. For the moment, however, efforts are concentrated on keeping the school open for this school year. A committee was appointed to work on raising enrollment to keep the school going beyond June. Board and faculty members joined Krepps in asking for pledges and donations. Many teachers have sacrificied their salaries to keep the school afloat.The senior class even pledged to give up its prom and give the money to the school.By midnight Thursday, the school had raised in excess of $300,000 with more coming in during the day Friday. At 2 p.m. Friday, MA teacher Monta Rae Purser said $400,000 had been raised overnight. “It’s a Christmas miracle,” said Purser who resides in Redbone.Thanks to staff writer Gina Herring of the Monroe County Reporter contributing to this story.