Is Morehouse College in Financial Trouble?

The alma mater of Samuel L. Jackson , Walter E. Massey, Dr. Martin Luther King, Jr., Spike Lee and David Satcher among others is having some cash flow problems.

The Grio reports that enrollment is down at the prestigious all-male liberal arts Morehouse College; budget cuts have been planned and faculty and staff will be taking furlough days to compensate.

Interim Provost Willis Sheftall said that the drop in enrollment is due to the recession, and changes in rules to the federal loan program which are leading to a decline in enrollment at HBCUs around the country.

“This is a challenge, no question about that,” Sheftall told the Atlanta Journal-Constitution. “But it is not a crisis.”

Read more at The Grio.