FILE – In a Thursday, June 4, 2015 file photo, Sweet Briar College alumni do a cheer for the school after a hearing on the closure of Sweet Briar college at the Supreme Court of Virginia in Richmond, Va. Sweet Briar President Phillip C. Stone marvels at the energy of passionate alumnae who helped save the school just a few months ago from closure. But he knows without a serious change in fortune, the salvation will only be temporary. (AP Photo/Steve Helber, File)

SWEET BRIAR, Va. (AP) — The non-profit formed to save Sweet Briar College says it’s making good on its latest installment to keep the women’s college afloat, and with dollars to spare.

Saving Sweet Briar Inc. says it will make a payment in excess of $3.5 million on Wednesday. The group says the final sum was still being tallied late Tuesday and would top that number.

The installment was part of a series of payments that were spelling out in a mediated settlement structured this summer to save the small liberal arts college from closure.

Saving Sweet Briar was formed after the college’s former leaders said the school could not overcome financial challenges.

Skeptical former students disagreed, and started raising money to ensure the start of classes this academic year.