David Boren Responds To OU's Nearly $1 Billion Debt

The president of the University of Oklahoma said the university's nearly $1 billion debt is large but not unlike other large public universities, including Oklahoma State University. 

Boren said a lot of that debt is due to bonds that have to be paid for physical facilities.

Boren's successor, Jim Gallogly, mentioned this week the university is losing $36 million a year. About 6% of the University's operating budget is used for required annual debt payments. Boren said the university needs public support.

As part of a statement, Boren said, "It is clear that no public college or university can maintain the excellence that we have achieved unless state funding returns to normal."

This week Oklahoma State University's spokesperson Gary Shutt released numbers that show the university's bonded debt stands at $809 million.