March 4, 2024 Group Watch: Senate Bill Could Keep Birmingham Southern College Afloat
An Alabama Senate committee approved a bill that would extend a loan to Birmingham Southern College in the hopes of keeping the liberal arts college open. The bill sponsored by Senator Jabo Waggoner, revises language in a law passed last year that created the Distressed Institutions of Higher Education Revolving Loan Program. The bill would move oversight of the program from the state treasurer to the executive director of the Alabama Commission on Higher Education. The law was intended to extend financial help to Birmingham-Southern College, a private liberal arts college. Officials of the college say it may have to close if it does not get the loan. Last year State Treasurer Young Boozer declined to provide the loan to the school, citing concerns about the school’s collateral. Waggoner said Boozer’s refusal to approve the loan led to the change. The bill is expected to be on the Senate floor next week.
