News wire article from our research archive:

NEW ORLEANS, La.: Tulane Receives $3.5 Million for Hurricane Recovery

Tulane University issued the following news release:

Tulane University was awarded nearly $3.5 million this month by the Hurricane Education Recovery Awards (HERA) program sponsored by the U.S. Department of Education.

The funds will be used to defray expenses directly related to damages resulting from Hurricanes Katrina or Rita, as well as to provide grants to new students entering the university in the post-Katrina era.

Tulane's cumulative financial losses from the hurricanes are approaching $650 million. This number represents losses from property damage, business interruption, and damaged or destroyed research assets and art collections.

"To date, we have recovered approximately $300 ...

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