UMass Is Drowning in Debt, President Tells Lawmakers

Robert L. Caret, the new president of the University of Massachusetts, told a State House committee on Wednesday that costs associated with the university’s debt are “untenable,” according to local news coverage. Mr. Caret said that while the UMass system covers 85 percent of debt costs at the various UMass campuses, the Amherst campus is also spending 8 percent of its operating budget on debt service. While the system struggles with debt, it is also dealing with deferred maintenance and needs driven by a 17-percent growth rate in the last five years. Earlier this year, UMass asked for $3.4-billion for capital projects.