News
W. Va.’s Alderson Broaddus No Longer On Probation Amid Financial Struggle
By: Associated Press
Posted on:
CHARLESTON, W.Va. (AP) – A university in West Virginia is no longer on probation from its accreditor.
The State Journal reports Alderson Broaddus University received the notification from the Higher Learning Commission last week but the school is still on notice because of its financial trouble.
Alderson Broaddus was put on probation in 2017 because of its poor financial status. The private institution defaulted two years prior on a series of long-term bonds that totaled more than $36 million.
The accreditor says the school has improved with the hire of a new financial advisor and securing a near $28 million loan from the U.S. Department of Agriculture.
The notice has little effect on students.
Alderson Broaddus has until October of 2020 to prove to the accreditor that they’ve addressed the issues noted in the letter.