Brown University Taps $300 Million Loan Amid Funding Threats
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Brown University entered into a $300 million loan earlier this month as Ivy League schools contend with threats from the federal government to freeze funding.
The college initiated a term loan with an unidentified lender, according to a regulatory filing dated April 15. The proceeds will be used for general corporate purposes, giving Brown flexibility to use the funds as it sees fit. The loan, which was incurred on April 11, matures in 2032 and has a 4.86% interest rate, the document says.