"The college is accredited by the Southern Association of Colleges and Schools (SACS) and among the requirements for obtaining and keeping accredited status with SACS is “financial stability.” With Bennett’s declining enrollments and budgetary deficits, SACS put the school on probation in 2016, telling school officials what was already obvious—that they needed to stop losing money."
https://www.jamesgmartin.center/2019/06/our-accreditation-system-has-bennett-college-struggling-for-life/