2nd loan approved for SC State, this time for $12M

COLUMBIA, S.C. (AP) — South Carolina State University will receive a second state loan to pay long overdue bills and keep student services running.

Area media outlets report the $12 million loan was approved this week by a legislative committee. The money will go to the historically black Orangeburg school over three years. The amount was proposed by a committee of state college presidents working with the school on its finances.

Earlier this year the Budget and Control Board granted a $6 million loan to the university, which has about 3,300 students. The college presidents had earlier determined the university had a deficit of about $18 million.

South Carolina State President Thomas Elzey says it’s important that the state and the Legislature are willing to help the school get back on sound financial footing.