I experienced a similar situation at my school. I attended the University of Houston in the mid nineties. We had a modest HF station -Atlas 350XL Transceiver, Dentron MLA2500 Amp, TH6DXX on a 40 foot tower that sat atop a 3 story building. In 2012 I returned to campus for a seminar, and noticed the tower and beam were no longer there. I ventured inside the building to where the station used to be (in a custodial closet) and found the area had been remodeled completely, with no hint of a radio station, closet, or anything else I recognized from my time on campus. Our club membership averaged only a dozen or so while I was there. Once I graduated, I lost touch with the club, but found out a few years later that the faculty sponsor (a ham) left the school, and the trustee of the club call sign had passed away. The best I can tell, the club simply went away because there was nobody there to keep it alive, which I suspect happens quite frequently. I've tried to locate former members of the school club online to no avail.
On a positive note, there does seem to be increased interest in ham radio in the primary and secondary schools in my area due to a renewed focus on STEM subjects (Science, Technology, Engineering, Math). Perhaps some of these bright young minds will have enough interest in ham radio to take it with them to college and form or revive clubs.
Stephen
N5VTU