Paine College dogged by financial problems again in 2016
AUGUSTA -- This was another year of uncertainty for financially troubled Paine College.
Its accreditation agency notified the school in June it was being removed from the organization’s membership for failing to meet certain financial standards.
Paine later sued the Southern Association of Colleges and Schools Commission on Colleges after the agency denied an appeal and the parties reached an agreement allowing the school to stay a member while the suit moves forward.
The college cut a number of positions in 2016 and raised several million dollars to help its financial picture before meeting with SACS in June. School officials said they were blindsided by the organization’s decision and in the lawsuit claimed that SACS was using arbitrary financial standards unfair to small private colleges like Paine.
Read more: http://chronicle.augusta.com/news/2016-12-30/paine-dogged-financial-problems-again-2016
[font color=330099]Paine College is a historically black college.[/font]
