Talladega College, the oldest private historically Black college in Alabama, has announced a strategic plan to address its significant debt and financial crisis. The plan focuses on financial integrity, academic excellence, recruitment and retention, and institutional advancement. The college recently missed payments to employees and vendors, cut the gymnastics team, and failed to provide students with federal refund checks. The school’s president and CFO have resigned, and changes are being made to reduce costs and live within the school’s means. Enrollment has declined, contributing to the financial challenges facing the institution. The college is working to address its financial issues and has hired an outside firm to conduct a forensic audit to determine how funds were used. Despite the challenges, the interim president remains optimistic that by addressing these issues systematically, Talladega College can get back on track. Talladega is seeking to avoid the fate of nearby Birmingham-Southern College, which closed in May after running a significant deficit. The interim president emphasized the need for transparency and making hard decisions to ensure the long-term viability of the institution.
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