Senate panel OKs bill to let universities borrow - Doug Finke, GATEHOUSE NEWS SERVICE

Unable to pay the money promised to universities, Illinois is planning to give them permission to borrow to pay expenses. The Senate Executive Committee has approved Senate Bill 416, giving public universities the authority to borrow against the money the state promised in the current state budget, but has yet to deliver. Most, but not all, public universities in the state are being given the authority. The University of Illinois system has opted not to be included.