News 12 at 6 o'clock, June 30, 2009

AUGUSTA---The president of a local business school says there will be no more classes at the school after today. Savannah River College has been in business for more than 25 years. But over the past year, financial problems have plagued the school and are now forcing it to shut down.

It's the last day of class at Savannah River College. The last day ever. The reason is money problems.

President Darryl Kerr sent News 12 an email Tuesday morning saying that classes last year were taught at "primarily our cost while receiving very little payment for tuition. And that financially the college can not continue like this just like any other business could not."

"They really work with you and had small classes," said former student Melissa McDaniel. She appreciates her education there, but isn't surprised to hear this news.

"I kinda saw it coming. A lot of people had a lot of problems during the time I was there," she said.

News 12 first told you about money problems at the college last fall. An anonymous person emailed a letter labeled confidential that was from the desk of Darryl Kerr and apparently, not meant to be seen by anyone but the staff. It said to the staff that "we we will not be able to pay you. And that frankly the well is dry."

Savannah River College depended on federal student loans to pay for many of its students tuition. That in turn paid teacher and staff salaries. Last fall, the U.S. Department of Education conducted an open program review. And that was what was tying up the money. We were never given a reason for why the review was happening.

When asked in August, Darryl Kerr told News 12 he expected the money to arrive in 7 to 10 days. Nearly a year has passed since then. Now, a once filled parking lot will stay empty. No more students will roam the halls. Savannah River College is closed for business.

Darryl Kerr says he still has some staff on hand doing some final paperwork that the accrediting agency is requiring.

Some former students are wondering how they can get their transcripts once the school is shut down. Kerr said transcripts will be maintained indefinitely because that is what is required. Someone just needs to put something in writing and instructions will be posted on the school's website.