(02-22-2021 10:26 AM)wisdomgymrat Wrote:  Someone explain the academic debt to be paid off until 2026

The athletic department was given institutional funds to aid in the move to the WAC (about $10M). The NM legislature saw that and said "you can't do that" and made the athletic department pay it back to the NMSU general fund. We were paying $1M+ a year to pay off the debt. We "refinanced" a couple years ago, cutting our payments in half, but lengthening the time to pay off the debt. We now pay about $500k a year towards the debt. But we just added several million to the debt because of covid, so 2026 now looks like a pipe dream.

BTW, the UNM athletic department has been given millions and millions of dollars from institutional funds and has run a budget deficit of millions of dollars in the last 10 years and the NM legislature not only allows it, they are not requiring UNM to pay back the money. UNM is a much larger school than NMSU so a lot of NM politicians are UNM grads and ABQ is much closer to Santa Fe than Las Cruces. The hypocrisy is shameless and blatant.