Morris Brown College paid the U.S. Department of Education $500,000 to resolve the historically black college's $9.9 million debt. While an important step , this settles only part of the college's more than $30 million debt.
The Southern Association of Colleges and Schools revoked the college's accreditation in 2003, citing gross financial mismanagement. Morris Brown applied to regain it from a different agency and President Stanley Pritchett said paying off the debt will bolster its chances.
At its peak the college enrolled 3,000 students and offered nearly 50 majors. Today about 85 students are enrolled, taking classes in three majors.
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