Calvin College Raises $25 Million to Reduce Debt

By: Associated Press
By: Associated Press

GRAND RAPIDS, Mich. (AP) -- Calvin College officials say they have raised $25 million toward reducing the western Michigan's college's long-term debt.
The Grand Rapids-based private liberal arts college said Friday the goal was to raise the money by 2017 but it succeeded in eight months.
College officials say the fundraising campaign is one of several strategies to close the school's current and future operating deficits. Other efforts include selling unnecessary properties, refinancing debt, boosting enrolment and reducing expenses.
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