Mayville State University cuts into million-dollar debt

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MAYVILLE (AP) - Mayville State University President Gary Hagen says the school and foundation is making progress on paying off more than $1 million in debt.

Since Hagen took over in June 2006, the school has paid off $250,000 of its $900,000 debt, and half of the $400,000 obligations by the Minot State Foundation. The school hopes to retire all of its debt by 2009, Hagen said.

"We've already started shifting more to a strategic planning mode," Hagen said.

"This year was getting our finances under control, but that's our next thrust."

The school has reduced tuition waivers and cut staffing at the foundation office, including director. Hagen hopes to have a new director hired by 2009.

The school also cut costs by eliminating its men's and women's soccer programs.

Those programs cost the school about $100,000 in tuition waivers because most of the players were from other countries.

Mayville has traditionally focused on teacher training, but Hagen said the school may expanded its business program to include North Dakota industries such as alternative fuels.

"The major research universities are concentrating more on developing technology and products, but for more day-to-day employees who need basic science and math knowledge to work in the plants and manage the plants, I think there are opportunities for Mayville there," he said.

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