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Published August 19, 2010, 09:35 AM

Mayville State Erases Million Dollar Deficit

Mayville State University has erased a $1 million deficit.

By: Associated Press, WDAZ

The university has been chipping away at the debt the past four years. The college now has nearly $800,000 in reserves.

The debt was largely created by unanticipated fuel costs and a drop in full-time students. The campus foundation also was struggling and much of the deficit was in athletic programs.

Four years ago, a committee appointed by the North Dakota University System chancellor analyzed the school's deficit and outlined a plan to eliminate it. The deadline was this summer.

President Gary Hagen says the campus can now focus on the future.