The future for a Mid-South college is looking brighter after facing financial hardships.
Lemoyne-Owen college has received over $4 million in donations, said President Johnnie B. Watson. The school now has a financial leg up, setting the stage to take the school out of accreditation probation.
The school could receive as much as $3 million more, depending upon ongoing negotiations.
The school has a history of financial troubles.
Jim Dugger, the new Chief Financial Officer at the school, brings decades of experience to the school, as well as a new fiscal management plan.
"Long-term, we need to increase our student enrollment," said Dugger. "We needed the funds to get our accreditation reaffirmed."
Some leaders within the community, including Memphis City Councilman Myron Lowery, are calling for Shelby County and the state to match the multi-million dollar donation.
"We're looking forward to a $500 thousand, three-year commitment from Shelby County as well as one from the state," said Lowery.
The school said that this is not a quick fix, but a long-term commitment.
The school plans to build a 350-bed dorm to support more students.