Ex-President of Stevens Tech Agrees to Repay Controversial Loans

February 3, 2011

Harold Raveché, who resigned last year as president of Stevens Institute of Technology, has agreed to pay off more than $721,000 in low-interest loans from the institute that were part of a dispute over compensation and governance that led to a lawsuit against Stevens by New Jersey's attorney general, The Star-Ledger reported. The suit, since settled, questioned the oversight by the Stevens board of the then-president. While he lived in a university-owned home, the loans were given to allow him to buy two vacation homes.

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