Ex-college president charged in $5M student loan fraud News
Ex-college president charged in $5M student loan fraud

[JURIST] The former president of Morris Brown College, an historically black institution in Atlanta, Georgia, has been charged with taking out some $5 million in unauthorized federal student loans in the names of students who did not want them and using the funds to pay college expenses. Delores Cross, 68, was President of Morris Brown between 1998 and 2002; she and her former financial aid officer have been charged with some 30 counts of fraud in connection with more than 1800 false loans. When the fraud was discovered Cross and her accomplice were fired, the college lost its accreditation, and with the institution ineligible for federal student aid enrollment plummetted from 2700 to 72. As soon as the college is free from operating debt, it plans to file for reaccreditation, perhaps as early as 2007. AP has more. MBC provides background in this graduation press release from May 2004.