Greensboro College will lay off six full-time faculty members at the end of the academic year in order to maintain its accreditation from the Southern Association of Colleges and Schools.
The association withheld the accreditation status for the second time in a row due to the college's finance management.
Over the last few years, the college struggled to match tuition receipts with salaries and other expenses and therefore declared a $4 million and $7 million budget deficit in 2008 and 2009, respectively.
In order to solve the financial crisis, the college increased its enrolments, cut maintenance and food-service costs by hiring outside vendors and sold all but one off-campus property (Athletic practice fields).
Based on program enrollment, graduation rates and whether other faculty members could teach the concerned lecturers' courses, the college officials decided to dismiss six faculty members by the end of May.
Following the dismissals, the college will be left with 50 full-time faculty members.
In similar efforts, last spring, the college discharged six professors and seven staff members and removed its majors in French and Spanish and minors in computer science, international studies and women's gender studies.
This time, if the college fails to show its financial ability to run the college by the end of the year, the association might permanently remove the accreditation, which in turn prevents the college from receiving any federal financial aid programs.
President Lawrence D Czarda told News & Record that the college's financial condition was improving and it was in no danger of closing down.