Arkansas System Approves Online Ed Funding Source

eVersity, the University of Arkansas System's fully online institution, will be partly funded by a loan from the system's reserves, the Board of Trustees decided on Friday. The board last month approved a $5 million loan but tabled the source of the funds. In an email, a spokesman said the system will also issue a request for proposals from other financial institutions that could fund eVersity. If the terms of one those proposals is more favorable than tapping into the reserves, it will be submitted to the board as a new resolution, he said.