South Carolina State University is seeking a government bailout to climb its way out of a multi-million dollar deficit, Diverse Issues in Higher Education reports.
Campus leaders are in talks with state legislators as they grapple with the looming budget shortfall.
Here’s the interesting part: “That deficit estimate largely reflected the impact of the loss of hundreds of students because their families had lost access to federal Parent PLUS Program loans due to a tightening of loan rules,” Diverse Issues in Higher Education reports.
So, as the ballooning college loan debt crisis finally forces regulators to tighten their belt, the days of reckoning commence. Unfortunately, it’s on the back of taxpayers.
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