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All of the new houses at Indiana ('50s and '60s and after) were financed by the "Indiana Plan" in which the Univ. guaranteed the loans. There was never a problem for many years. Every chapter at Indiana got a new or improved (used) house under this program - even a few newly colonized.
The school eventually was forced to pay on some of these loans, and I think they have learned their lesson. The first to go was Phi Sigma Kappa, I think.
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