Weekly Market Update


Thursday, December 28, 2017

The National Student Clearinghouse Research Center found that college enrollments decreased for the sixth straight year, with undergraduate enrollment declining by 1.4%. First-time college student enrollment decreased, mainly due to fewer older students, and for-profit colleges saw a decline of 7.1%, the steepest drop of any sector. Bucking the trend, enrollment in graduate and professional programs increased.

A survey by the National Association of College and University Business Officers (NACUBO) attributes the enrollment trend to price sensitivity and competition. Institutions are pursuing a range of strategies in response: Purdue University has frozen tuition through 2019 and developed accelerated programs to help students graduate sooner, while the University of Wyoming is considering lowering tuition for non-residents to attract more out-of-state students.

In Other News

Rating Agency Update

  • Moody's downgraded Saint Mary's College of California's rating to Baa2 from Baa1. The outlook is stable.
  • S&P raised University of California Board of Regents' Series 2010A and Series 2010B Bonds' rating to AA from AA-. The outlook is stable.
  • S&P raised Ferris State University Board of Trustees, Michigan's rating to A+ from A. The outlook is stable.
  • S&P assigned A- to Illinois State University's Series 2018A and Series 2018B Auxiliary Facilities System Revenue Bonds. The outlook is stable.