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Colleges Unable to Access Funds due to Bank's Failure

Nearly a 1,000 colleges are unable to access funds held in Wachovia Bank, reports the New York Times. Billions of dollars are held in a fund at the bank, which is closed to withdrawals due to Wachovia being bought out by Citigroup. As a result, many colleges have no access to funds used for operational purposes around campus, like maintenance and repairs.

There have been fears that this could affect student financial aid. However, no schools have reported being unable to provide aid to students as of yet. We'll keep you posted if we hear otherwise. In the meantime, if dining hall food gets even worse, you'll know why. 

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