Schools
Report: PUSD Loan Will Cost School District Nearly $1B
VOSD reports that a $105 million loan to the Poway Unified School District last year will cost almost $1 billion to re-pay.
As students in the Poway Unified School District began their summer break, recognized the district’s accomplishments in student achievement and relationship with the teachers union.
As the summer winds down, another report has attracted attention to PUSD, this one questioning the wisdom of the district’s borrowing money in 2011 using a capital appreciation bond.
Voice of San Diego reporter Will Carless posted a story Monday detailing the loan, which provided the district with $105 million last year, but payment toward the debt won’t begin for 20 years. Between 2033 and 2051, the PUSD will have to pay $982 million to pay off the loan.
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