CALIFORNIA — California University of Pennsylvania, wants to buy back its on-campus housing in an effort to reduce room costs.

Officials said Wednesday the school has asked the State System of Higher Education to issue up to $76 million in bonds to cover outstanding debt against six dorms that hold 1,497 students. The dorm buildings are on land leased by the university to a university-affiliated organization that built them and pays the debt through variable-rate bank financing.

The system’s board of governors will start voting on it Tuesday, and if it’s approved the university would pay them back with student housing income.