Regents to address soaring debt of Georgia colleges - CBS46 News

Regents to address soaring debt of Georgia colleges

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ATLANTA (AP) -

The Georgia University System Board of Regents is set to consider a new policy to deal with the system's soaring private debt load.

The Athens Banner-Herald reports that the regents are expected to take up the issue Tuesday in Atlanta.

Officials say a proposed new policy would limit the annual rent payments made by universities to 5 percent of the operating budget for the overall system. They say 10 percent would be the upper limit for any one school or institution under the proposed policy.

The system's 35 colleges and universities have piled up about $3.6 billion in such capital lease programs during the past several years.

The regents are also expected to vote on whether to set up a reserve fund to cover possible shortfalls at individual colleges.

Information from: Athens Banner-Herald

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