Earlier this month, Talladega College, a historically Black school in Alabama, held a press briefing to update the community on its progress towards improving the college’s financial health.
Most notably, the HBCU announced that it has received a $15 million investment in the form of a working capital loan from Hope Credit Union. The funding will aid in debt consolidation and vendor payments.
Additionally, Talladega College has received support from two external partners who will provide pro bono services: Ruffalo Noel Levitz, an educational consulting firm, to assist with enrollment management and Wilbron, a Birmingham-based agency, to support marketing and public relations. The United Negro College Fund and CCS Fundraising have also pledged to help the college with endowment building and advancement strategies.
While the college works to attain financial security, there will be no impact on students. The HBCU stated there are no plans to increase Talladega’s tuition at this time.
Finally, Talladega College confirmed the search for its next president is in its final stages. Current interim president Walter Kimbrough has led the institution for the past year. Later this month, the HBCU will announce the final candidates to be Dr. Kimbrough’s successor.
