The University of Iowa Athletic Department is starting to pay back the 50 million dollars it borrowed from the school to get by following the loss of revenue brought on by the pandemic. U-I Vice President, Rod Lenhertz told the Board of Regents Wednesday, the first payment on the debt was made recently as the fiscal year ended.

They have 15 years to pay off the loan, and Lenhertz says they would like to pay it off early. He says they will look at where they stand as things return more to normal.

The Athletic Department had to get an internal loan because State of Iowa code does not allow an external loan for operating expenses.