DULUTH, Minn. -

Dozens of Duluth beauty school students woke up to some devastating news Thursday morning.

Their school, Regency Beauty Institute suddenly and unexpectedly is closing all of it's campuses, citing financial issues.
Thursday afternoon students were given a few minutes to clean out their supplies and say their goodbyes. It was an emotional scene with a lot of tears.

The students say, the closure is a huge shock. They had no indication the school would be closing. Students say their teachers were told the program was closing at about 5 p.m. Wednesday.

Regency Beauty Institute is a year-long program that costs about $20,000. In Duluth, some students say they had completed about 8 months of their education, others had only been attending the school for three days.

"This is every heartless, they don't know who they are affecting," said former student Solie Stegman. "This is it. This is our careers, it's not like we can just pop into another college."

Regency released a statement Thursday that said,

"This is not another case of a school being forced to shut down because it was accused of wrongdoing. We held ourselves to high educational and ethical standards. The environment is simply not one that allows us to remain open."