New President: University of Oklahoma Shouldering $1B Debt - Associated Press

The University of Oklahoma's incoming president says the school is losing $36 million a year as expenses continue to outpace revenue. The University of Oklahoma is losing $36 million a year as expenses continue to outpace revenue, according to the school's incoming president. Jim Gallogly met with the university's Board of Regents in Oklahoma City on Tuesday, The Oklahoman reported . He'll become the university's 14th president July 1. Total debt is nearly $1 billion at the Norman campus, and debt service costs are almost $70 million a year, according to Gallogly. https://www.usnews.com/news/best-states/oklahoma/articles/2018-06-20/university-of-oklahoma-faces-1b-debt