Reuters: Oldest U.S. black college Cheyney University on verge of financial collapse - "its four-year graduation rate is just 9 percent" [It brings me no pleasure to say, even with White taxpayer help, when Blacks try to run and populate any modern complex Western institution, this result is not just a pattern, but a law of nature.]

Oldest U.S. black college on verge of financial collapse

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(Reuters) - The nation's oldest black college, Cheyney University, one of Pennsylvania's 14 state-run universities, is on the verge of a financial meltdown that threatens its ability to continue operating, a state official said on Wednesday.

Cheyney's student body has shrunk by two-thirds, to about 1,000, since its 1983 peak, and its four-year graduation rate is just 9 percent. A quarter of students never receive a degree, and student loan defaults are high.

"Cheyney is in dire, dire, dire straits," the state's auditor general, Eugene DePasquale, said. The university has had a deficit for four of the last five years, growing to a cumulative $12.3 million shortfall as of June 30, 2013.

Cheyney's fiscal problems - students who are unable to repay debt and increasing pension costs - were exacerbated by cutbacks in state higher education funding. ...

http://www.reuters.com/article/2014/12/17/us-usa-pennsylvania-college-idUSKBN0JV2S520141217