loaned $400,000 to Liberty.
In 2006, the university had net assets—cash, property, investments and other holdings—of roughly $100 million. At the start of Jerry Falwell Jr.'s presidency in 2007, the university listed $259 million in assets. Five years later, in May 2012, Falwell Jr. said the total had risen to $1 billion, thanks to proceeds from its online learning program and from accelerated facility expansion.
In December 2010, Liberty sold $120 million in facilities bonds to finance expansion. It sold an additional $100 million in taxable bonds in January 2012 to help finance $225.2 million of planned capital projects around the campus over the next five years. The bond offering was part of Liberty University's campus transformation plan which included several renovations and additions to academic buildings and student housing, as well as fund the new Jerry Falwell Library and formation of a medical school. The bonds received a rating of "AA" from Standard & Poor's and in 2013 received an upgraded rating …
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