The University's Revolving Loan Program

The Pool program allows the Budget Office to loan and reloan Pool funds to the campuses and the University President’s Office over the next twenty-five years. The University created the program through the issuance of $40,000,000 seven-day variable rate bonds maturing November 1, 2030, through the Massachusetts Health and Educational Facilities Authority  (now MassDevelopment). The bonds have since been remarketed three times with only $20,000,000 outstanding.

The Pool program allows the Budget Office to loan and reloan Pool funds to the campuses and the University President’s Office over the next twenty-five years. The University created the program through the issuance of $40,000,000 seven-day variable rate bonds maturing November 1, 2030, through the Massachusetts Health and Educational Facilities Authority  (now MassDevelopment). The bonds have since been remarketed three times with only $20,000,000 outstanding.  The Pool Program is a flexible, low-cost financing mechanism that reduces the cost and time involved in purchase-specific borrowing at the campuses and in the President’s Office. With a completed requisition and supporting documentation, a low fixed rate loan may be obtained through this program with no closing costs. Campus and budget office authorization is required.