Interest costs hamper UI amid credit crisis
By Julie Wurth
Saturday March 29, 2008
URBANA – The national credit crisis is costing the University of Illinois money – $30,000 to $50,000 a week in interest costs – and forcing the school to restructure some of its short-term debt.
Trustees this week gave administrators broad authority to rework up to $110 million of "variable rate demand bonds" backed by two troubled bond insurance companies.
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