News 12 at 6, August 28, 2008

AUGUSTA-- Just one day after our exclusive investigation into a local college that's out of money -- the school shuts down today--- for an un-planned holiday.

12 On Your Side was told by the President of Savannah River College he gave his faculty the day off as a sign of appreciation for their hard work.

But it comes on the heels of news of major financial difficulties and a government review of the school.

The parking lot at Savannah River College is pretty empty Thursday. Class is out...Unexpectedly.

The president of the school says it is a faculty appreciation day.

But it came as a complete surprise to student Carol Hollis.

"When we came in, we were told 1st thing there wouldn't be any classes today." Carol said.

This wouldn't be noteworthy except for the fact that on Wednesday, 12 On Your Side first told you about some major financial issues going on at the school that are mentioned in two confidential memos we were sent.

The memos say teachers hadn't been paid because needed federal funds hadn't been approved and quote, the well is dry.

Student Thomasina Parks is one of the 200 students at SRC. She loves the school, but she says without that student loan money she was counting on, times are tight.

"I was anticipating the money. I needed money for gas, supplies and books." she said.

According to the memos, those loans fund nearly 90 percent of SRC's budget. But why they haven't arrived yet hasn't been answered specifically by President Darryl Kerr or the U.S. Department of Education.

A spokesperson for the Department did tell 12 On Your Side that the school is under an open program review now.

President Kerr says a review like this is nothing unusual. In fact, the school has had 4 of them before in its 25 year lifetime and passed all of them.

Despite that, with conditions like this, students like Thomasina Parks are concerned.

"I feel let down." she said.

President Kerr emphatically said that he is completely confident the school will get through all of this.