A highly anticipated bill that could save Birmingham-Southern College, as well as other struggling Alabama universities, was signed into law Friday. 🎓 The law creates a new loan program for struggling public and private universities through 2027. Details:
for the college, but she has since worked with legislators to add more guardrails to the loan program.
Givan, the law’s co-sponsor, said she was told by the governor’s office Friday that the bill had been signed. It would have been rare, she said, for the governor to veto legislation that she had already reviewed and tweaked. Coleman said the college will meet with the city of Birmingham soon, as well as the county, to discuss other local funding options. Leaders say they have already been able to raise about $46 million toward their $200 million endowment goal.
“We had near-record applications before all of this,” Coleman said. “And we do think Birmingham-Southern is the type of college that a lot of young people would like to go to, so we’re optimistic we can turn this.”The college must have been in operation for more than 50 years in AlabamaMust maintain operations and have a plan to fundraise as it receives the loanAn amendment from the governor also requires applicants to submit a written financial plan documenting their ability to repay the loan.
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