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Debt forces Harvard back to drawing board

Facing big payments, school reduces, rethinks major projects

Harvard is rethinking plans for its Allston science complex, originally projected to cost $1.4 billion. Harvard is rethinking plans for its Allston science complex, originally projected to cost $1.4 billion. (George Rizer/ Globe Staff/ File 2009)
By Beth Healy
Globe Staff / September 28, 2010

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It is no secret that Harvard University ran into a short-term cash crunch when the markets plunged in late 2008 and had to cut costs sharply. But there also has been a longer-term toll: Harvard borrowed heavily to get through that period, and now finds itself grappling with big debt payments and scaling back ambitious plans. (Full article: 959 words)

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