By J. Smith
Good news has emerged in the saga of Morris Brown College: The U.S. Department of Education has an agreement pending with the school to settle nearly $10 million in debt for pennies on the dollar. According to the Associated Press, the Education Department said that it will forgive more than $9.4 million in debt if Morris Brown can manage to pay the remaining $500,000. If the deal is approved, it would be a major colossal victory for the financially embattled institution, giving the administration a chance at a fresh start.
According to the AP, Morris Brown College President Stanley Pritchett said, “This is a game-changer for the college. There are other financial challenges, but this will help to open the door…to resolving our other issues.”
Issues indeed abound at the university, from struggles to keep accreditation to a revolving door of presidents. But none have been as crucial and high-profile as the school’s finances. It is hard to forget about the city threatening to shut off their water and the former president’s crucifixion in the media. The Atlanta Post spoke with former (and infamous) Morris Brown President Dolores Cross, who’s efforts to improve the school’s finances eventually led her to a state issued house arrest ankle bracelet.
This is great news, however, for the historically black institution to finally have a chance at a clean slate. Finally.
Read more: U.S. Offers to Relinquish Morris Brown College’s $9.4 Million Debt
