JACKSONVILLE, Fla. -- Edward Waters College has reached a settlement with the Southern Association of Colleges and Schools that should let the college keep its accreditation.

The motion filed in federal court Friday stays the lawsuit EWC filed after its accreditation was revoked for plagiarism, pending a meeting by the SACS June 23 in Ponte Vedra Beach.

EWC attorney Mike Freed is optimistic the association will go along with the settlement, which would mean the lawsuit would then be dismissed.

EWC challenged the revocation by saying the SACS didn't follow due process or its own rules in revoking the accreditation, and maintained the punishment was too harsh, given the infraction.

EWC officials have warned that loss of accreditation, and the subsequent loss of federal tuition assistance for students, could be disastrous for the school. Students at non-accredited schools are also not eligible for scholarships from the United Negro College Fund.

An estimated 90 percent of the college's students receive financial aid.

The uncertainty about the school's future has already caused the second semester enrollment to drop from about 1,300 students to 900.

EWC President Jimmy Jenkins resigned earlier this year, saying he wanted to give the private Jacksonville college its best shot at successfully appealing the decision to revoke its accreditation.

Edward Waters College, established in 1866 to educate the descendants of blacks newly emancipated from slavery, is a private four-year liberal arts co-educational residential institution, committed to Christian principles which emphasize high moral and spiritual values, as a result of its close affiliation with, and support from, the African Methodist Episcopal Church.

The college offers baccalaureate degrees in the arts and sciences and other career-based professional fields.