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Nichols College Issued $20M in Bonds for Campus Enhancements

Wednesday, February 26, 2014

 

Nichols College has received $20 million in tax-exempt bonds to build and furnish a new academic building to house the Institute for Women's Leadership.

“The focus on student success continually drives us to improve the learning and living environment at Nichols College,” said Nichols College President Susan West Engelkemeyer, Ph.D.

The new building will span some 27,500 square feet and will also contain academic support services, classrooms and offices. The proceeds from the bonds will also help fund a bevy of other projects. The school will renovate and expand Chalmers Field House, improve campus lighting and landscaping, and finance various improvements across the college's Dudley campus. The bonds will also help to refinance already existing debt that was incurred during the construction of dormitories, academic buildings, and a gymnasium.

The bonds were purchased by United Bank and issued by MassDevelopment, the state of Massachusetts' finance and development agency, which works with businesses, nonprofits, educations and financial institutions to stimulate economic growth. During fiscal year 2013, MassDevelopment financed or managed 350 projects that generated investment in excess of $2.4 billion in the state's economy.

“We are excited to work with MassDevelopment to provide our students with enhanced academic, fitness and recreational facilities," continued President Engelkemeyer, "as we move toward our vision of becoming the college of choice for business and leadership education.”  

 

Related Slideshow: Central MA Colleges & Universities with the Highest Student Debt

Seven in 10 college seniors (71%) who graduated last year had student loan debt, with an average of $29,400 per borrower, according to a new report released by the Institute for College Access and Success.

According to the Institute’s Project on Student Debt, the average student debt in Massachusetts is $28,460, but what about the state's individual institutions? Check out the slides below to see the average debt graduates are accruing at colleges and universities in Central Massachusetts. (Not all schools self-reported student debt; if not, they are not in the slideshow). 

Note: All data is based on four-year or above institutions for students graduating in the 2011-2012 academic year. Worcester Polytechnic and University of Massachusetts Medical School are not included in the data below, because they did not report the average debt of their graduates.

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#7 Worcester State Univ.

Average Student Debt: $20,449

Percent of Graduates with Debt: 74%

Non-Federal Debt, Percent of Total Debt of Graduates: 20%

Bachelor's Degree Recipients: 861

Full-time Enrollment Fall 2011: 3,901

In-State Tuition and Fees: $7,653

Total Cost of Attendance: $21,585

Percent Pell Grant Recipients: 21%

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#6 Clark University

Average Student Debt: $25,175

Percent of Graduates with Debt: 91%

Non-Federal Debt, Percent of Total Debt of Graduates: 15%

Bachelor's Degree Recipients: 539

Full-time Enrollment Fall 2011: 2,218

In-State Tuition and Fees: $37,350

Total Cost of Attendance: $46,200

Percent Pell Grant Recipients: 20%

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#5 Holy Cross

Average Student Debt: $26,567

Percent of Graduates with Debt: 55%

Non-Federal Debt, Percent of Total Debt of Graduates: 16%

Bachelor's Degree Recipients: 692

Full-time Enrollment Fall 2011: 2,872

In-State Tuition and Fees: $41,488

Total Cost of Attendance: $54,358

Percent Pell Grant Recipients: 16%

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#4 Nichols College

Average Student Debt: $30,890

Percent of Graduates with Debt: 89%

Non-Federal Debt, Percent of Total Debt of Graduates: 29%

Bachelor's Degree Recipients: 278

Full-time Enrollment Fall 2011: 1,116

In-State Tuition and Fees: $30,400

Total Cost of Attendance: $43,315

Percent Pell Grant Recipients: 34%

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#3 Assumption College

Average Student Debt: $34,579

Percent of Graduates with Debt: 81%

Non-Federal Debt, Percent of Total Debt of Graduates: 29%

Bachelor's Degree Recipients: 485

Full-time Enrollment Fall 2011: 2,090

In-State Tuition and Fees: $32,545

Total Cost of Attendance: $45,830

Percent Pell Grant Recipients: 18%

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#2 Becker College

Average Student Debt: $44,596

Percent of Graduates with Debt: 95%

Non-Federal Debt, Percent of Total Debt of Graduates: 33%

Bachelor's Degree Recipients: 239

Full-time Enrollment Fall 2011: 1,400

In-State Tuition and Fees: $28,490

Total Cost of Attendance: $42,710

Percent Pell Grant Recipients: 48%

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#1 Anna Maria College

Average Student Debt: $49,206

Percent of Graduates with Debt: 86%

Non-Federal Debt, Percent of Total Debt of Graduates: 39%

Bachelor's Degree Recipients: 165

Full-time Enrollment Fall 2011: 803

In-State Tuition and Fees: $29,860

Total Cost of Attendance: $42,930

Percent Pell Grant Recipients: 38%

 
 

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