Wednesday, March 18, 2015

58 comments Ohio public universities pile up debt for fancy facilities -- and students pay, expert says - Associated Press

Ohio's 14 public universities owe $6.5 billion for debt mostly created by what some education experts have called unnecessary campus building booms. College officials say they have been constructing necessary facilities, but some higher education experts say universities have gone on unnecessary spending sprees to lure students to their campuses, the Dayton Daily News reported. Some debt-financed college projects in the state include an $80 million football stadium at the University of Cincinnati and a $1.1 billion medical center expansion at Ohio State University. The University of Akron, which is $487 million in debt, has constructed 24 new buildings and carried out 20 additions or renovations of existing buildings since the early 2000s.

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