American College of Greece Faces Country's Turmoil

July 6, 2015

The American College of Greece, which offers an American-style and American-accredited education for 2,500 students in Athens, is allowing students to enroll without making a down payment that would normally be required, in light of the closure of banks and Greece's economic crisis. The vote Sunday by Greek citizens against a bailout plan that would have imposed new austerity measures may add to the economic chaos. About 84 percent of students are Greek nationals, so the lack of access to their funds and family funds is significant. Thimios Zaharopoulos, provost of the college, said via email that the continued closure of banks could create problems for the college and all parts of Greek society. The college's endowment, he said, is in the United States and so should not be directly affected by the crisis.

Zaharopoulos was optimistic about the long term. "ACG has been around for 140 years and has survived multiple disasters. It will survive this one as well," he said.

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