Final Sweet Briar College cash installment tops $3.6 million
SWEET BRIAR, Va. (AP) - The non-profit formed to save Sweet Briar College says it has delivered more than $3.6 million to the women's college, topping the terms of a mediated settlement to keep the school operating.
Saving Sweet Briar Inc. says the final installment was wired to the school at noon Wednesday. It tops the $3.5 million Saving Sweet Briar agreed to deliver.
Under a settlement announced this summer, Saving Sweet Briar was committed to making three installments totaling $12 million. It met each funding milestone to ensure the current academic year at the 114-year-old liberal arts college.
Saving Sweet Briar was formed after the college's former leaders said in March the school could not overcome financial challenges.
Skeptical former students disagreed, and started raising money to reverse the decision.
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