Weekly Market Update

NYU TO OFFER FREE TUITION TO MEDICAL STUDENTS

Thursday, August 23, 2018

New York University announced that its medical school will be tuition-free for all current and future students, hoping to address a growing shortage of doctors in less-lucrative areas of practice, such as primary care, pediatrics, and gynecology. Daunting student debt is one explanation for the choice many medical school graduates make to pursue higher-paying specialties, although many have expressed skepticism that free tuition alone will remedy the shortfall. While the plan will waive tuition, which averages $55,000 per year, it does not cover other costs of attendance, which average $27,000. NYU plans to fund this initiative by drawing on its $600 million endowment.

In Other News

Rating Agency Update

  • Moody's affirmed Cisco College's A3 rating. The outlook is revised from negative to stable.
  • Moody's assigned A1 rating to the Rhode Island School of Design's proposed Series 2018 Revenue Bonds. The outlook is stable.
  • Moody's affirmed University of the Incarnate Word's A3 rating. The outlook is revised from stable to negative.
  • Moody's assigned Aa3 rating to Montana State University's Series F 2018 Revenue Bonds. The outlook is stable.
  • Moody's affirmed Northwest Missouri State's University's A3 rating. The outlook is stable.
  • Moody's downgraded Beloit College's rating from Baa2 to Ba1. The outlook is revised from stable to negative.
  • S&P affirmed Manhattan College's Series 2017 Revenue Bonds' A- rating. The outlook is stable.
  • S&P affirmed University of St. Thomas' Series 2012 Revenue Refunding Bonds' BBB+ rating. The outlook is revised from stable to negative.
  • S&P assigned AAA to Purdue University's Series DD Student-Fee Bonds. The outlook is stable.
  • S&P affirmed the A- rating on Bradley University's Series 2017C Revenue Bonds. The outlook is stable.