Cheyney University is trying hard not to lose its accreditation as the school continues to grapple with financial woes and declining student enrollment.
Last Wednesday, the oldest historically black college in the nation announced a new fundraising campaign aimed at balancing the school’s budget by June 30, The Inquirer reported.
During a press conference, university president Aaron A. Walton announced multiple revenue-generating changes to the school’s business model as well. These include partnering with Thomas Jefferson University to build a new medical facility on the Cheyney campus, in addition to teaming up with Epcot Crenshaw to develop a new headquarters for the company on campus as well.
These new initiatives come weeks after the chancellor of the Pennsylvania State System of Higher Education told state senators that Cheyney was likely to lose its accreditation, the The Associated Press reported earlier.
In response to the closure threats, Walton stressed the importance of maintaining the school’s accreditation in order to remain in operation.
“Cheyney is going to stay open, the issue is accreditation,” Walton told the Philadelphia Tribune. “If you don’t get accredited, you’re no longer eligible for Title IV funds, nor are you eligible for Pell Grants, etc., and we would default on one of the conditions of staying accredited.”
The decision on the school’s accreditation will be made by the Middle States Association, a regional accrediting institution, on November 20.