Long-term liabilities grow at Michigan universities

7:03 am
Mon September 30, 2013

Long-term liabilities grow at Michigan universities

Lead in text: 
Building projects and retiree health care are major course of borrowing
GRAND RAPIDS, MI -- Debt and long-term liabilities have grown over the past decade at colleges and universities throughout Michigan. The increases occurred as universities borrowed to help finance new construction projects and liabilities, such as retirement health benefits, grew in cost.