Compton : College Repays Loan Early
Six months ahead of schedule, trustees at Compton Community College have paid the $250,000 final installment on a $1.1-million emergency loan from the state made during the 1981-82 budgetary crisis.
The payment wasn’t due until February, but college officials said they could save $22,000 in interest by sending it early.
In a statement, President Edison O. Jackson described the early payment as “symbolic of our new thrust toward excellence.” Since Jackson came to the two-year school in 1985, enrollment has increased to 4,598 for the spring term--nearly 24%--and academic standards have been tightened.
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