S.C. State Granted Extension of Loan Repayment - Higher Education
Higher Education News and Jobs

S.C. State Granted Extension of Loan Repayment


by Diverse Staff

S.C. State University Acting President W. Franklin Evans

S.C. State University Acting President W. Franklin Evans

South Carolina State University’s effort to get its finances in order received a major boost this week when the state’s Budget and Control Board agreed to grant its request to extend repayment of a $6 million loan.

Under the original terms of the loan, full payment by the HBCU would have been due June 30. The university now has until 2020 to repay the loan it secured last April in an attempt to keep afloat in the midst of past due debts for services and declining enrollment.

S.C. State, which has overhauled its leadership, made its initial request for an extension to the state last October.

“South Carolina State University has cleared another hurdle as it makes strides to become financially solvent,” said Acting President W. Franklin Evans. “The Budget and Control Board demonstrated its commitment to ensuring the university remains a viable partner in the state’s push to provide quality diverse educational opportunities for all those who want to improve quality of life through education.”

Over the next few months, university officials, along with the interim Board of Trustees, will work to devise a loan repayment plan.

New Report Offers Best Financial Practices for Colleges’ Roles in Student Success College affordability and a clear understanding of financial aid are among the biggest challenges low-income students pursuing a higher education face. Education experts say that colleges and universities can play a larger role in increasing student ...
Billionaire Gives $125M to University of Chicago Economic Department CHICAGO — Billionaire businessman Ken Griffin is donating $125 million to the University of Chicago’s Department of Economics. The university announced Griffin’s gift Wednesday, saying it’s the second-largest in school history and brings his perso...
UW-Superior to Drop 9 Majors, 15 Minors, Grad Program SUPERIOR, Wis. — University of Wisconsin-Superior officials have decided to drop nine majors, 15 minors and a graduate program due to lack of interest. Wisconsin Public Radio reports some of the majors include sociology, theater, journalism and po...
Students from Puerto Rico Can Get Free Semester at Cornell ITHACA, N.Y. — Cornell University is offering a free semester of study for up to 58 students from Puerto Rico’s main public university system. The University of Puerto Rico is operating at partial strength as the island recovers from Hurricane Mar...
Semantic Tags: