ATLANTA -- Friday marks a critical deadline for Morris Brown College. A bankruptcy judge has given the college until September 6 to file a new financial restructuring plan.
The plan must detail how the school will pay off its estimated $30 million debt. Morris Brown borrowed $300,000 from the African Methodist Episcopal Church, and it will keep the college open for one more week.
Attorneys for Morris Brown have to present a financial reorganization plan Friday. That plan is expected to involve the property where the college has had operations along both sides of Martin Luther King Jr. Drive just a few short blocks west of Northside Drive.
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In the past few weeks, there has been talk of Friendship Baptist Church wanting to relocate to the Middleton dorms on the campus. The church has a tentative deal to move so the new Falcons stadium can be built.
Morris Brown supporters protest the idea. Graduates of the historically African-American college say much is at stake - mainly history. They say a handful of people are responsible for what is happening now.
"We were one of the only black colleges that was founded by Mr. Morris Brown, and that's what you have to look at, is the people who actually ran it for the past couple of years," alumna Kendace Hall said.
Morris Brown insists it has a few dozen students attending the college and a few professors who remained to teach them.