COLUMBIA, S.C. (AP) - South Carolina State's president says the university still owes more than $6 million and needs more help from the state to move forward.
President Thomas Elzey said Tuesday the state's only public historically black university will soon ask the state's financial board for a $12 million loan, to be disbursed over three years. That's in addition to the $6 million loan it received last spring. That loan is due to be repaid by July, but Elzey is seeking an extension.
He says the university has cut $5 million by laying off more than 100 employees and plans for other staff to take a seven-day furlough.
Gov. Nikki Haley says she can't approve giving the school any more money until an outside accounting firm completes its review of the university's finances.
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