Morris Brown College has transferred $500,000 to the federal government to pay off a $10-million debt, according to a press release by the college.
The historically black college—which reached a settlement in April with the U.S. Dept. of Education to relinquish the millions of dollars of unused financial aid given to the school—made the payment Tuesday, Aug. 23. The deadline for the payment was today.
“This is certainly a major achievement for us – the most significant milestone reached by the college – since we started this recovery process with an aggressive turn-around plan in 2010. Our objective is to restore the legacy of Morris Brown College and to move the college into the 21st Century with a global approach to educational programs,” said Dr. Stanley Pritchett, President of Morris Brown.
[list type=”clip”] [li] Full article at: Patch.com By Yolande M. Minor [/li] [/list]