Falwell’s Liberty University Doubles Debt With $100 Million Sale
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Liberty University, started in 1971 by the Reverend Jerry Falwell Sr., borrowed $100 million for an expansion of its Lynchburg, Virginia, campus, almost doubling its long-term debt.
The university, which has grown into one of the largest private colleges in the U.S. by increasing online enrollment, will use the money to help finance $225.2 million of capital projects planned around the campus in the next five years, according to sale documents. Work will include a library named for its founder, a baseball stadium and a school of health sciences, according to the documents distributed to investors.