Glenville State College has completed a $39 million bond issuance as a part of ongoing efforts to manage expenses and cut costs to create more opportunities to help students.
Representatives from the College’s Board of Governors and members of GSC’s Business and Finance team joined President Tracy Pellett on Tuesday, September 27 to finalize the issuance. “We know that our refinancing several bonds with variable rates into one with a lower rate of interest positions us to pass financial savings along to students, which is a top priority for our Board of Governors and me,” Pellett said.
He continued, “This is another example of our continued pursuit to do business in a way that puts students and their finances first. Colleges in West Virginia and, frankly, throughout the United States, should be taking advantage of financing opportunities like these and become more creative in the ways colleges can save money for students and their families.”
Savings gained from the bond issuance will go to improve several academic, student life, and faculty and staff areas across campus including the campus fitness center, classroom technology, faculty and staff computers, campus and student housing, and various other safety and environmental systems.
Glenville State College’s Board of Governors approved the bond issuance at their June meeting. Greg Smith, Glenville State College’s Board of Governors Chair remarked, “This action is akin to a family refinancing their mortgage except that the amount is quite larger. We appreciate all the combined effort to see this process through to the end and the added benefits the students, staff, and faculty will see as a result.”
