Morris Brown College, which has been facing foreclosure this week because of its $30 million in debts, filed for federal bankruptcy protection on Friday, The Atlanta Journal-Constitution reported. The historically black college lacks accreditation and has only a few dozen students, but its leaders said that filing for bankruptcy should delay foreclosure -- and that if a federal judge grants the college's request for bankruptcy protection, Morris Brown would have time to regroup.
- Wilberforce University, the country's oldest private historically black institution, could lose accreditation
- As for-profit education sector faces financial woes and greater regulatory scrutiny, banks gain influence over colleges
- Consumer Financial Protection Bureau issues report on private student lending
- U.S. weighs whether to relieve loan debt of for-profit college's student borrowers
- Supreme Court to Hear Bankruptcy Case Involving Colleges
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