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Future of Bethune-Cookman University relies on getting finances in check, president says

VOLUSIA COUNTY, Fla. — The president of Bethune-Cookman University sent out a letter about the school’s future that alarmed some students and alumni.

In the letter, BCU President LaBrent Chrite wrote 2020 “will be the year our beloved university prepared to close its doors, or it will be the year we turned a corner.”

Chrite said the letter was a candid assessment of the university. The school will find out if it remains accredited in March, something Chrite says the school cannot survive without.

The letter focuses on the university getting its finances in check so it can keep its accreditation.

The Southern Association of Colleges and Schools, BCU’s accrediting agency, has put it on probation.

Chrite writes, “We must close our operating deficit if we are to be re-accredited by March.”

So far, Chrite said the school has lowered it debt from $20 million to $8 million.

Lowering the debt has come at a cost, including layoffs and eliminating some of its athletic programs.

The university said it is also considering eliminating its sports teams.

SACS says losing accreditation does not mean a school would close. Although, it would make obtaining state and federal funding more difficult.