Cheyney University president Aaron Walton presented a new plan to remedy the school’s financial issues and recruit top-tier students to the nation’s oldest historically black college, according to a report from The Associated Press.

The plan includes an ambitious fundraising campaign and comprehensive changes to Cheyney’s business model.

“We will have a balanced budget,” Walton said, vowing it will happen by June 30.

Among the revenue-generating plans was a commitment from West Chester-based Epcot Crenshaw to set up a new headquarters at Cheyney and the construction of an on-campus medical facility by Thomas Jefferson University.

Thomas Jefferson and Cheyney have already begun a joint research project focusing on health disparities in Greater Philadelphia. The collaboration aims to help graduates from Cheyney enter postgraduate studies at Jefferson. The on-campus medical facility by Jefferson will also give practical experience to Cheyney students.

The announcement comes weeks after Daniel Greenstein, chancellor of the Pennsylvania State System of Higher Education, told state senators that Cheyney may lose accreditation. But after Greenstein and Walton met with Gov. Tom Wolf last week, Walton said everyone was committed to Cheyney’s future.

Read more about Cheyney University from The Associated Press here.