Weekly Market Update

ENROLLMENT TREND

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.