Oral Roberts U. Erases Its Debt
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Two years after Oral Roberts University announced that it was $55 million in debt, the institution has announced that it is debt-free, The Tulsa News reported. The debt skyrocketed under the presidency of Richard Roberts, who quit amid accusations (which he denied) that he was misspending university funds. Much of the university's recovery is due to a large gift that came conditional on governance changes, but university officials said that fund raising generally has bounced back.