All-MVC Fan wrote:Mikovio wrote:Liberty is a nonprofit tele-evangelical school founded by Jerry Falwell and Pat Robertson and reliably funded by old ladies' Social Security checks that might erstwhile have gone to Oral Roberts. Different beast altogether.
Actually, I believe the source of Liberty's cash is the genius decision a long time ago to get heavily into online courses, and a $29,000,000 life insurance policy on Jerry Falwell that paid off every red cent of the school's debt. Say what you want about the school's religious viewpoint, but it might be the best managed non-P5 school in America.
Maybe they're onto something lol. But even if that's true they have incurred hundreds of millions in debt since Falwell's death. Bonds that were probably bought by said old ladies and savvy investors who see the religious devotion as guaranteeing a steady stream of students and giving...
https://en.wikipedia.org/wiki/Liberty_U ... y#Finances
In December 2010, Liberty sold $120 million in facilities bonds, with the proceeds to be used to finance future expansion.[145] An additional $100 million in taxable bonds were sold in January 2012, with the proceeds used to help finance $225.2 million of planned capital projects around the campus over the next five years.[146]