Benedict College Also in Red Ink

Benedict College, the historically black educational institution in Columbia, South Carolina, is also experiencing financial woes. The college was forced to postpone paying employees as a result of a cash shortfall. The school had an operating deficit of $2.2 million last year, due in part to lower than expected enrollments. A recent audit showed that the college had more than $100 million in debts and only $35 million in assets.