School is $7 million in debt
FRANKFORT, Ky. (Sept. 5, 2014) — Kentucky State University said it was forced to drop 645 students for not making payments to their tuition, board and fee accounts (set up appropriate payment plans and/or apply for financial assistance), with some students having balances as high as $40,000. The school has an enrollment of about 2,700.
“We face a nearly $7 million historic deficit largely due to 645 students that have not paid KSU this fall,” said interim President Raymond Burse. “This is terribly unfortunate, and we must take the necessary steps to protect KSU’s financial stability.”
Burse said that after months of constant contact and financial counseling with those students, they will unfortunately be removed from enrollment for failing to meet their financial obligations.
Under Burse’s direction, the KSU foundations were ordered last month to pay balances for all students whose account balances were less than $1,000 (111 students totaling roughly $97,000). He also ordered that $65,000 worth of scholarships and book vouchers be awarded to 42 students who were poised to graduate this year or were first-time students.
“We have done everything we can to help students who need it the most,” Burse said. “The last thing we want to ever do is remove a student from enrollment, but the university cannot endure the entire burden.
In an attempt to get student’s finances in order the university said that:
Students not meeting their financial obligations were informed by the university about its payment plan 22 times over a 14-month period, including seven times since June 2014.
They were counseled 13 times and encouraged to sign payment agreements with the university.
Financial aid disbursements were released 10 days prior to the first day of classes, on Aug. 16, 2014, and are ongoing.
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