The university owned by the Cheyenne River Sioux Tribe of South Dakota is hoping to restructure its debts in order to keep the school up and running.

Si Tanka University obtained a loan to pay employees for two missed pay periods. The university used a federal grant as collateral for the loan so the paychecks won't be good until January.

Meanwhile, the school is in foreclosure litigation for defaulting on $6.6 million in loans and faces a $2 million federal tax lien. A lawyer says a foreclosure agreement is being worked out.

The financial problems stem from Huron University, a private college that Si Tanka University, the tribe's college, purchased in 2001.

Get the Story:
University restructuring debts (AP 12/17)
Si Tanka unable to pay till January (The Sioux Falls Argus Leader 12/17)

Relevant Links:
Si Tanka University - http://www.sitanka.edu

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