Haley opposes $12M loan for South Carolina State University

By: The Associated Press
By: The Associated Press
Area media outlets report the proposed loan to be paid over three years would be in addition to a $6 million loan approved earlier this year by the Budget and Control Board.

South Carolina State University logo

Wednesday, Aug. 13, 2014

COLUMBIA, S.C. (AP) -- A committee appointed by the General Assembly has proposed another $12 million loan for South Carolina State University but Gov. Nikki Haley opposes the move.

Area media outlets report the proposed loan to be paid over three years would be in addition to a $6 million loan approved earlier this year by the Budget and Control Board.

The committee of current and former state college presidents studied the university's books and found it has an $18 million deficit.

Haley opposes the loan until the university hires a financial consultant. She says that was one of the provisions of the original $6 million loan.

South Carolina State President Thomas Elzey says the Budget and Control Board is supposed to hire the consultant with $500,000 from the original loan.

(Copyright 2014. The Associated Press.)


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