https://www.post-gazette.com/news/education/2021/05/26/St... They were impressive developments, if pricey — upscale dorms and a 6,000-seat sports and convocation center at California University of Pennsylvania, and three hours north, an eight-building “neighborhood” of studios, suites and semi-suites at Edinboro University.
Costs to build new residence halls, student centers with high-end amenities and dining centers fit for demonstration cooking account for nearly two-thirds of the annual $95 million in debt service payments across the system. An updated total debt figure was not available, but at one point, the obligation approached $2 billion.
These institutions took on huge debt to attract students and now face declining enrollments.