Out of its three comma endowment, it will pay a settlement of about six hundred student's annual tuition, which is a little less than a quarter of their undergrad population. After a six year smear campaign, sounds like money well spent!
> Dear Obies,
> Today, Oberlin College and Conservatory initiated payment in full of the $36.59 million judgment in the Gibson’s Bakery case, an amount that represents the awarded damages and interest owed. Please see the college’s public statement below.
> While this outcome is a disappointment, our financial plans for this possibility, which included insurance coverage, mean that this payment will not impact or diminish our academic or student life experience, or require us to draw down Oberlin’s endowment.
> Like me, the majority of the campus was not here at the beginning of this matter in 2016. But it is also true that this case has been difficult for all of us who love this institution and its hometown. I am looking forward to all that is ahead, and remain focused on Oberlin’s core mission of providing a truly excellent liberal arts and musical education.
> Carmen Twillie Ambar > President