The expansion of higher education enrollment since 1998 has brought about the massive increase of capital construction of local colleges and universities. Though the amount of the debt of the colleges and universities is generally controllable within the limit and safe, special concern and emphasis should be paid to schools especially those whose payment crisis has occurred and whose debt is out of control. There exist all kinds of problems in the capital construction of local colleges and universities such as waste and idleness of unutilized land, improper management etc. The approach to further standardize the capital construction and debt management should include project approval, loan control, debt reorganization, fiscal interest subsidies, land exchange and engineering consignment etc.