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In a statement released today by the university, Stephen G. Jennings acknowledged making “a very serious mistake” and apologized.
The backers of a similar measure in Colorado filed petitions months ago, but legal challenges may complicate such campaigns.
Instead of helping to clear a $225-million backlog of matching-gift obligations, a July 1 moratorium on the program has set back the state even more.
The Italian ambassador to the United States is leading efforts to raise money to continue the examination.
The Illinois Student Assistance Commission is ending its “school as lender” arrangement with the university.
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