LOUISVILLE, Ky. (WDRB) -- Trustees at Indiana University have allowed the school to borrow up to $1 billion because of a potential budget shortfall.
The move is in response to the coronavirus pandemic. A university spokesman said the school is in good fiscal shape, but the request offers peace of mind.Â
The money could be borrowed, as needed, to maintain services on campuses.
The university's largest source of revenue is tuition, and it has stopped in-person classes for the spring and summer because of the pandemic.
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