After raising nearly $9 million dollars to remain in good standing with the Southern Association of Colleges and Schools Commission on College, Bennett College found a temporary reprieve on Friday, hours after it was announced that the school would not have its accreditation restored.
According to MyFox8, the court’s decision reflects an agreement reached between the college and the Commission on Colleges of the Southern Association of Colleges and Schools to preserve the college’s accreditation during legal proceedings, according to a press release from the school.
The SACSCOC Board of Trustees voted in December to pull the school’s accreditation on December 9, thrusting Bennett to fundraise. Accreditation is important in order for a school to allow student loans and receive federal grants.
Bennett College beat their original goal of $5 million that they needed to raise by February 1 as some 11,000 donors helped contribute. However, the SACSCOC Board of Trustees said in a statement on Friday (Feb 22) that they made their decision to not honor Bennett’s accreditation “with no remand for consideration of additional financial information made available after December 9, 2018,” citing the school’s alleged financial instability was the reasoning behind the decision.
Bennett College, which is located in Greensboro, North Carolina, is one of two all-women HBCUs with the other being Spellman College in Atlanta.