November 9, 2007

Canadian Colleges Turn to Bond Financing

By KAREN BIRCHARD

Canadian universities have racked up more than $3-billion in debts since they first began to finance with bonds six years ago.

Critics worry the debt load may be too high for public universities, but financial analysts expect the university bond market will continue to expand.

Years of tuition freezes and government cutbacks of support for higher education have forced a number of Canadian universities to pay for projects through debt financing.

The University of Toronto,

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