By Joe Ragusa
NORMAL – Illinois State University will offer a new academic program next year.
The ISU board of trustees unanimously approved adding European Studies to the university’s curriculum with trustee Jay Bergman abstaining because of his role with the Illinois Board of Higher Education.
Illinois State University President Larry Dietz said the European Studies major will help extend the university’s international reach.
“That both means bringing more international students to ISU, kind of bringing the world to ISU if you will. It also means sending more of our students abroad,” Dietz said. “This is an academic program that’s really going to be geared towards those individuals who want to study abroad but also may want to work abroad.”
The program is expected to attract about 40 students when fully implemented and Dietz said it won’t cost the school any additional money to start.
Bond refinancing
ISU trustees have also approved bond refinancing that’s expected to save the university $3.5 million.
The measure will refinance bonds issued in 2006 that paid for projects like the South University Street parking deck, residence hall renovations and part of the Student Fitness Center. Dietz said ISU’s good credit rating will help secure lower interest rates.
“One of the reasons that we’re able to save some money is that our bond rating is higher than the state’s right now,” Dietz said. “There’s only two institutions in the state right now that can claim that: the University of Illinois and us.”
ISU vice president Greg Alt said even under a worst-case scenario involving interest rates, the university will save at least $1 million.
Rambo House
Another proposal approved Friday by the ISU board of trustees will redevelop the site of the old Rambo House.
It cost $750,000 to bring the Rambo House down and the board has approved spending another $150,000 to build a student gathering place called Redbird Plaza where the old house used to stand on University Street.
Dietz said the site would have remained vacant if student government and a private donor didn’t step forward to provide the extra money. The board of trustees also approved spending $690,000 for repainting portions of the north Watterson Tower.
Joe Ragusa can be reached at joe.ragusa@cumulus.com.
