Troubled Myers University won yet an other financial reprieve this week, but its supporters should hold off on popping champagne corks just yet.

In recent years, Cleveland's oldest four-year institution of higher learning has flirted with insolvency, first through ill-conceived expansions and then desperate pleas for public and private support. Last December, Myers President Richard Scaldini warned that the school faced sale or closure unless it could come up with a $1.2 million line of credit sufficient to satisfy federal officials; four months later, he was back begging again, this time for $1.5 million in grant money to keep the school open.

With Saturday's commencement approaching and no clear resolution in sight, Scaldini announced on Wednesday that a donor who wished to remain anonymous had committed $2 million to the school. A day later, news broke that the donors were in fact principals with one of Myers' for-profit suitors, the University of Northern Virginia. Chancellor Eric Fingerhut said the state was open to new approaches, but rightly condemned Myers' secretive approach. Both Myers' students and financial backers deserve "to know exactly what's going on," Fingerhut said.

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