Changes

Berkeley controversially borrowed $445 million to fund a $321 million renovation its seismically unsafe football stadium and construction of a new $153 million student athletic center,<ref name=wsj/><ref name=debt>{{cite news|title=Cal scrambling to cover stadium bill|url=http://www.sfchronicle.com/collegesports/article/Cal-scrambling-to-cover-stadium-bill-4604221.php?t=7903d5abac47b02379|work=San Francisco Chronicle|date=June 16, 2013|accessdate=March 22, 2014}}</ref> both of which opened in 2012. Fundraising for the project fell far short of expectations.<ref name=wsj/>

Berkeley controversially borrowed $445 million to fund a $321 million renovation its seismically unsafe football stadium and construction of a new $153 million student athletic center,<ref name=wsj/><ref name=debt>{{cite news|title=Cal scrambling to cover stadium bill|url=http://www.sfchronicle.com/collegesports/article/Cal-scrambling-to-cover-stadium-bill-4604221.php?t=7903d5abac47b02379|work=San Francisco Chronicle|date=June 16, 2013|accessdate=March 22, 2014}}</ref> both of which opened in 2012. Fundraising for the project fell far short of expectations.<ref name=wsj/>

In 2014, Moody's downgraded Berkeley's bond rating from from Aa1 to Aa2.<ref name=forbes>{{cite news|url=http://www.forbes.com/sites/joshfreedman/2014/03/19/the-hidden-college-problem-when-universities-like-students-take-on-debt/|title=The Hidden College Problem: When Universities, Not Just Students, Take On Debt|first=Josh|last=Freedman|work=Forbes|date=March 19, 2014|accessdate=March 21, 2014}}</ref>  However, Berkeley was able to save $1 billion in borrowing costs by refinacing its debt.<ref name=forbes/>

In 2014, Moody's downgraded Berkeley's bond rating from from Aa1 to Aa2.<ref name=forbes>{{cite news|url=http://www.forbes.com/sites/joshfreedman/2014/03/19/the-hidden-college-problem-when-universities-like-students-take-on-debt/|title=The Hidden College Problem: When Universities, Not Just Students, Take On Debt|first=Josh|last=Freedman|work=Forbes|date=March 19, 2014|accessdate=March 21, 2014}}</ref>  However, Berkeley was able to save $1 billion in borrowing costs by refinancing its debt.<ref name=forbes/>

== Liberal bias ==

== Liberal bias ==