Syracuse chancellor more than doubled school's debt since 2004
- Syracuse University's debt more than doubled under chancellor Nancy Cantor, going from $150 million when Cantor started in 2004 to $400 million today.
- The construction of new buildings has outpaced revenues and enrollment, tripling annual debt payments, but two ratings agencies say the school has enough revenue to pay off the debt--even if it might be approaching its borrowing limit.
- Syracuse officials say the debt is manageable and that projects undertaken were necessary for helping the university compete in the 21st century.
From the article:
Syracuse, N.Y. -- When Nancy Cantor steps down as Syracuse University chancellor next year, she will leave her successor a transformed and expanded campus. And $400 million of debt. That’s more than two-and-a-half times the $150 million debt Cantor inherited when she became chancellor in 2004. ...
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