Pennsylvania System Offers Cheyney U Line of Credit

Pennsylvania's State System of Higher Education is preparing to offer Cheyney University, a financially troubled historically black institution, a $6.5 million line of credit, The Pittsburgh Post-Gazette reported. The university's finances have been in doubt for a number of reasons, including a 36 percent enrollment drop in recent years. The line of credit is believed to be sufficient to help the university manage through early 2016. The university system and Cheyney officials are also working on enrollment and financial plans to give the university more stability.