Boston Globe (September 28)
2010/ 09/ 29 by jd in Global News
Harvard is still reeling from the recession. When its endowment plunged in value, the university doubled its debt load to fund operations. Harvard’s debt soared to $6 billion over the past 3 years. According to the Globe, “Harvard is maxed out on debt for the foreseeable future. In order for the university to keep its AAA bond rating, its usual way of financing buildings, borrowing from investors, is effectively off the table.” Projects, such as the $1.4 billion Allston science facility project, are now being halted as Harvard look for ways to cut costs.
