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It is with extreme sadness that we share the news that Morris Brown College, a Historically Black College established in 1881 by the African Methodist Episcopal Church, is facing foreclosure, according to CBS Atlanta.

“This is heartbreaking and not only a sad day in the life of Morris Brown, but in black academia,” said former Atlanta City Councilman Derrick Boazman, a 1990 graduate of Morris Brown. “The school is needed now more than ever.”

With the exposure of extreme financial mis-management in 2002, Morris Brown lost its accreditation and federal funding and has faced a long, public battle with crippling debt. The college, which once boasted a student body of approximately 2,500 students, shriveled to a mere few dozens students at one point and now has a reported 50 students.

Read more at NewsOne.