Ex-Rutgers Coach Schiano Owes School $300,000 on Unsold House
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Former Rutgers University football coach Greg Schiano must pay the school the $300,000 balance of an interest-free loan he got to build a multimillion dollar home in Piscataway, New Jersey, by Jan. 26.
Schiano, 46, who resigned in January to coach the National Football League’s Tampa Bay Buccaneers, has been trying to sell the house since April and has cut the price twice, to $1.95 million from $2.3 million. The coach bought land from the university and was given the $800,000 loan from the athletic department in 2007 to build a house about two minutes from the school’s High Point Solutions Stadium.