Friday, August 30, 2013
Inside Higher Ed, Downgrading Elite Colleges:
Over the past several months, the credit ratings of several
prestigious liberal arts colleges have been downgraded or assigned a
negative outlook by Moody’s Investors Service.
These are institutions -- Haverford College [#9 in the U.S. News Rankings of Liberal Arts Colleges], Morehouse College [#124],
Oberlin College [#26] and Wellesley College [#6] -- that top students seek out, yet
they are showing small but noticeable signs of fiscal stress several
years after the end of the recession. Their downgraded ratings are still
better than those of plenty of other institutions, and Moody's has
issued plenty of gloomy projects about colleges during the economic
downturn. But the recent actions are notable because they affect
colleges that are by many measures -- money, prestige, history -- among
the most fortunate in the country.