WAVE 3 TV Louisville, KY | Building boom a delicate balance for Ind. colleges
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Associated Press - November 21, 2009 10:24 AM ET
INDIANAPOLIS (AP) - A building boom at Indiana colleges is causing concerns about rising debt loads as the state tries to shore up its finances.
The state has approved more than $1 billion in university projects in the last 18 months. The projects could cost the state $177 million in 2011 on university debt payments, a 67 percent increase from 10 years ago.
State Budget Director Chris Ruhl says that's money that can't be spent on faculty, staff and other university operations.
Lawmakers say the projects support construction jobs at a time when they are needed but caution that universities must balance growth so the debt doesn't force them to raise tuition.
Information from: The Courier-Journal, http://www.courier-journal.com
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