Cabrini College, in Radnor, obtained a waiver of certain agreements with its bondholders after having failed in the year ended June 30 to meet a profitability requirement relative to the amount of money needed to make debt its payments.
The school, which enrolled 2,253 in the current academic year, according to a report to bondholders, lost $8.4 million on operations in fisal 2015, up from a loss of $6.3 million the year before. It was the third consecutive year of operating losses.
At the end of June, Cabrini had $32.24 million in long-term debt.
A Cabrini spokeswoman said the school has the financial strength to withstand short-term losses and that it was confident that "our increasing trend in enrollment numbers will continue to strengthen our finances."