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University of Oklahoma president says $1B in debt is not uncommon

NORMAN, Okla. – The president of the University of Oklahoma, says the school almost $1 billion debt is large, but comparable to similar public universities.

The Oklahoman reports President David was Born on Wednesday statement followed earlier comments of his successor, which will begin on 1 July. Incoming chairman Jim Gallogly said on Tuesday that the school a loss of $ 36 million a year with the Norman campus nearly $1 billion in debt.

Drilling, says the debt to close, and the scope of the similarly rated public universities such as Oklahoma State University, especially those who do not receive financial support from the state.

OSU spokesman Gary Shutt said Thursday that the university’s bonded indebtedness amounts to $809 million euros.

Gallogly said on Tuesday that the University of Oklahoma should be “our house” for asking the state for more money.

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Information from: The Oklahoman, http://www.newsok.com

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