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Penn State trustees approve $750 million in borrowing

Written by The Associated Press | Sep 20, 2013 3:54 PM
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(Harrisburg) -- A relatively low-key meeting of Penn State trustees has concluded with approval of a $750 million borrowing plan to help finance capital improvements over the next five years.

The trustees have also voted to seek $300 million in state aid for the 2014-15 budget year, an increase of about five percent.

Outside, about 200 protesters chanted and demanded the trustees' resignations because of their handling of the Jerry Sandusky child sexual abuse scandal.

The protesters, who included former Pittsburgh Steeler Franco Harris, are angry over allegations in a university-commissioned report that the late Penn State football coach Joe Paterno helped cover up Sandusky's crimes. 

The borrowing package includes $30 million to help the athletic department cover the costs of NCAA sanctions imposed because of the Sandusky case.

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