Ex-President of Stevens Tech Agrees to Repay Controversial Loans

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.