The LeMoyne-Owen College in Memphis is saying it needs $2.9 million by June or close its doors.
The CFO for the city of Memphis and a LeMoyne-Owen alumni said, "If people don't step forward to fund it, (the school's time) is very short."
Funding comes from enough students.
It's simple...more students in, less money out.
The school faced a similar crisis last year, and the year before and the year before.
The school was warned by the Southern Association of Colleges and Schools for two years and then placed on probation for another two...or balance its budget.
Four years is enough time to figure out what to do to make ends meet.
Perhaps it's time for the school to close.
Students/money in, decrease expenses/money out...it's not that hard.
Why do you think schools cannot balance their budgets?
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