NASHUA, N.H. (AP) – Nursing school students fear they may need to start their studies from scratch after the New Hampshire Board of Nursing closed their school.

The Holden Medical Institute in Nashua was shut down Monday after the board received complaints that employees were not getting paid and students were not receiving tuition refunds.

About 60 students attended the 11-month LPN program, according to board director Margaret Walker.

She said none of the credits earned at the school are transferrable.

Carolyn Shea, who attended the institute, said she knew something was wrong when classes started to be canceled. Officials assured students not to be concerned, she said.

“Now I’m worried,” Shea told The Sun of Lowell.

She hoped to get a nursing license and give her three children a better life.

School director Wilfred Saroni was attempting to sell the institute to Premiere Education Group, an education company based in Springfield, Mass.

“Holden was in some financial trouble,” said James Boumil, the lawyer for Holden Institute Nashua, which owns the school.

Boumil said the deal would have solved the school’s financial woes.

But the nursing board struck down the deal during a hearing last week. Boumil was stunned.

Walker said the institute failed to provide financial statements that were requested in October 2007 – after the board learned of the complaints.

She is working with the institute to find a way for students to complete the school year, which finishes at the end of the summer.

Many students are seeking refunds.

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