"In 2012, the college filed for Chapter 11 bankruptcy.
According to the Administrative Office of the U.S. Courts, “A chapter 11 debtor usually proposes a plan of reorganization to keep its business alive and pay creditors over time.”
Despite its financial issues, Morris Brown College has never closed its doors. During Pritchett’s time as president of the college, Morris Brown’s debt has immensely been reduced.
“We had $32 million worth of debt that had been sitting on the books for about eight or nine years,” he explained. “In 2015, we came out of bankruptcy and had only $3 million worth of indebtedness. And that was to the AME church.”
With its debt nearly eliminated, the college began to seriously look at accreditation as its main priority.
The school has been working with an independent consultant to file its application. If accepted, the school will receive its accreditation by the end of 2019."
'We're still here': Morris Brown College president, alums talk about the institution's slow road back to prominence | The Atlanta Voice