March 16, 2007
Oklahoma State U. Brings in $280-Million
Oklahoma State University announced earlier this month that it had secured $280-million for its athletics program by establishing $10-million life-insurance policies on 28 of its athletics boosters.
The university borrowed $20-million to set up the policies and will be the sole beneficiary of the plans after the donors die.
The deal is believed to be one of the largest charity-owned life-insurance programs established by a university. Oklahoma State plans to use the money to
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