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Report: Tennessee could owe TSU a half-billion dollars
submitted 1 month ago by Nemacolin from newschannel5.com
[–]Nemacolin[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 0 fun2 insightful - 1 fun - 1 month ago (0 children)
Citing years of unpaid land grant matches by the state, a joint committee of the legislature discussed a half-billion-dollar sum owed to Tennessee State University.
According to legislative financial analysts, the state could owe up to $544,000,000 to the HBCU.
When the school was founded, the federal government put both TSU and the University of Tennessee on a land grant program. Tennessee was supposed to match dollar for dollar money sent by the federal government to fund the schools.
According to Rep. Harold Love Jr., that funding should've been 75% for UT and 25% for TSU. However, for decades, funding for TSU was inconsistent, federal, state or both never made it to the university.
However, there's also another funding ratio that has the dollar amount owed to TSU at $150,000,000.
Either way, TSU President Dr. Glenda Glover said she believes the state owes money.