Black College in Memphis Needs Financial Help

LeMoyne-Owen College, the historically black educational institution in Memphis, was placed on probation this past December by the Southern Association of Colleges and Schools. The college’s $6 million debt was one of the main reasons the accrediting agency raised the red flag. If LeMoyne-Owen does not get its finances in order, the college may lose its accreditation, which would make all students at the college ineligible for federal financial aid.

As a sign of the problems facing the college, board chair Jim Bishop recently resigned his position and the college’s faculty issued a vote of “no confidence” in college president James Wingate and senior vice president Sheila Fleming-Hunter.

New chair of the board of trustees Robert Lipscomb has stated that the college must raise $1 million by June 30 to cover current operating expenses.

Copyright © 2006. The Journal of Blacks in Higher Education. All rights reserved.