The Southern Association of Colleges and Schools is re-evaluating Bennett College after placing the school on probation for ‘financial instability’:
“They made that decision based on some things from 2009 to 2010. In that year, we had two major challenges, one, because we borrowed $20 million from the federal government, we had to pay a prepayment penalty of $1 million,” said Dr. Julianne Malveux, president of the college. “Also, we had a major donor default on a pledge. So as it showed up on our books, it showed up that we lost another $900,000.”
$20 million from the federal gov’t? So much for Bennett being a private college.
........As you post your comment, please conform to Piedmont Publius's simple comment policy: we welcome all perspectives, but require that comments be both civil and respectful. If you wouldn't say it to a co-worker in front of your boss, it probably is not civil and respectful. We will delete any comment that fails this test and issue a warning to the poster. A second offense will result in a ban on commenting on this site. In sum, disagreements, arguments even, are welcome; abusive behavior is not. Thanks.