S.C. State University’s accreditation will remain on probation for another year as the school works to erase a $20 million deficit.
The state’s only historically black public college announced Thursday that the Southern Association of Colleges and Schools Commission on Colleges is giving S.C. State more time after the replacement of administrators and trustees.
The commission on colleges could have revoked S.C. State’s accreditation on Thursday. Students at unaccredited schools cannot receive federal financial aid. Nearly nine in every 10 S.C. State students receive financial aid.
“We’re open for business, and we’re here to stay,” S.C. State acting president Franklin Evans said at a news conference.
The commission on colleges placed S.C. State’s accreditation on probation a year ago on financial and governance problems.
The governance issues have been cleared up, trustees said, but the school’s finances continue to plague the school.
S.C. State owes about $13 million in unpaid bills to vendors and at least $6 million in state loans.
The school could not keep up with its bills after failing to reduce its budget as enrollment shrank. S.C. State received the loan to help pay employees and utilities a year ago.