A penny saved . . .

Like thousands of homeowners who have refinanced to take advantage of lower interest rates, the College rolled over a portion of its debt and the savings will total about $13 million over the next 27 years. In 1982 and 1983 the College issued bonds to finance the new dorms on East Wheelock Street and pay for the renovation of Thayer and other buildings. The average interest rate the College was paying was 10 percent. Earlier this year the College redeemed those bonds and issued a new series worth $28,230,000 that pays an average interest rate of 6.9 percent. At the time of the reissue, Dartmouth's total long-term debt stood at $113.5 million.