Tuesday, December 15, 2015

SC State leader: Debt could force college to close - ANDREW SHAIN, the State

S.C. State University’s finances have improved since lawmakers replaced its trustees this spring, but the state’s only public historically black college needs additional state money to keep its accreditation and stay open, the school’s board chairman said Tuesday. S.C. State trustees chairman Charlie Way stopped short of asking a legislative panel to forgive $18 million in state loans to the college. But he said a portion of the loans — $12 million — was viewed as a financial drag on the Orangeburg school by accreditors. The loans, made in 2014, were needed to keep open the 119-year-old college after its leaders failed to cut its budget to match its falling enrollment. http://www.thestate.com/news/politics-government/politics-columns-blogs/the-buzz/article48601175.html

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