November 7, 2008
Financial Officers Are Worried About Debt
The cost of debt remains a big problem for colleges. One issue that has emerged in recent weeks is that many college officials simply did not understand what they had agreed to when they signed bond documents to finance their institutions' debt.
"People got comfortable that what the document laid out would never come to be," Michael Newman, a senior vice president at First Southwest Company, a financial-advisory and investment-banking firm, said last week at a meeting of college
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