UCR to borrow $15 million to keep medical school plans on track
UC Riverside officials said the university will borrow about $15 million to keep its proposed medical school on track given the state’s huge budget shortfall… State officials praised UCR’s proposal and acknowledged the Inland region’s need for a medical school, but they said the funding is needed because the state is facing a $15.2 billion budget shortfall… The UC Academic Council also had concerns about funding. In a letter to the UC provost, the council recommended approval for a UCR medical school only if new funding is found to cover $100 million in start-up and operating costs. The $100 million would cover costs over 12 years, Grey said, adding that UCR needs the $15 million to keep things on schedule for the next year.
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by Elaine Regus, The Press-Enterprise.