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Ozarka College Reduces Debt Through Bond Refinancing

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The Ozarka College Board of Trustees, working with Crews and Associates, has refinanced existing bonds that reduced the College debt by $545,431.56. By taking advantage of the competitive bond market rates, Ozarka College was able to further enhance their sound financial condition. The bond refinancing allows a cost avoidance to students and taxpayers that will assist with minimizing future tuition increases and further secure existing jobs.Dr. Richard Dawe, Ozarka College President commented, "Although all higher education institutions must maintain some level of debt to maintain and advance key programs and facilities, we recognized this as an important opportunity to reduce annual bond payments without spending the recouped resources. Our aim is to maintain affordable and competitive tuition and programs for our service region in north central Arkansas. "Ozarka feels this is a great example of how to be a good steward of scarce resources as we experience continued flat funding for higher education in Arkansas.    

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