Saint Joseph's College has announced the refinancing of its long term debt obligations through partnerships with DeMotte State Bank and Farm Credit Mid-America. The total amount financed is $27 million, which will be locked in at a fixed interest rate for a 20 year term. The agreement was finalized May 30, 2013 at Jasper County Abstract in Rensselaer, Ind.
This refinancing enables the College to more effectively manage its long term debt obligations while also investing in the local community.
"I am very pleased with the partnership we have made with DeMotte State Bank and Farm Credit Mid-America," said SJC Vice President for Business Affairs Hoa Nguyen. "By partnering, SJC will strengthen its relationship with local financial institutions."
Saint Joseph's College, named a "character-building college" by the Templeton Foundation and a "best Midwestern college" by the Princeton Review, is a four-year, Catholic college offering 27 majors, 4 group majors, 34 minors, and 9 pre-professional programs, complemented by the nationally acclaimed Core Program. Founded and sponsored by the Missionaries of the Precious Blood, SJC is located in Rensselaer, Indiana, approximately 90 minutes from both Chicago and Indianapolis, on a park-like campus of 180 acres and has an enrollment of 1,100 students.
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