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July 27, 2009, 11:00 AM ET
Faculty Members, Trustees at Greensboro College Didn't Know Financial Struggles Were So Serious
Faculty members at Greensboro College, along with former trustees, told the Greensboro News and Record they had no idea how serious the institution's financial problems were, and a recent decision to pledge the entire campus, the college's $12- to $15-million endowment, and the rest of its real-estate holdings as collateral for a bank loan was a complete surprise.
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