Weekly Market Update
STUDENT EXCHANGE VISA OVERSIGHT TIGHTENED
Thursday, May 17, 2018
The Trump administration published a new policy memorandum last Friday that would tighten enforcement against foreign students and exchange visitors who overstay their visas. The new rules address people who entered the U.S. legally but then remained, despite no longer participating in approved activities. Under the old rules, the government counted visitors' unauthorized days starting from the discovery of the violation, but under the new rules, which are to take effect in August, the government accrues the violation from the first day the visitor fell out of compliance. After people have been unlawfully present in the U.S. for 180 days, they are barred from re-entering for three years, and those who have been unlawfully present for more than a year are barred from re-entry for ten years. The new policy memo was published by U.S. Citizenship and Immigration Services, part of the Homeland Security Department, and will affect people with F, J, and M visas.
In Other News
- According to the College and University Professional Association for Human Resources, the number of campus police and public-safety personnel has increased 30% over the past year. The study on surveyed colleges from 2017-2018 found that campus police officers were the second most-frequent hires, exceeded only by data analysts. The finding comes at a time when police officers' role on campus has come under scrutiny for what critics call the enforcement of racial bias.
- A nonprofit has announced its intention to send the entire English archive of Wikipedia into space in order to archive human knowledge on the moon. Arch Foundation, a formed in 2015, said their main goal is to seed archives of human culture throughout the solar system and to inspire people about space.
- Michigan State University will pay $500 million to settle lawsuits brought by 332 victims of Larry Nassar, the former associate professor and doctor who sexually abused hundreds of young girls and women. Moody's recently downgraded the University's rating from Aa1 to Aa2 and revised the outlook to negative citing rising financial and reputational risks.
- The president of Quincy College resigned Tuesday, saying he had lost the confidence of the Massachusetts college's governing board amid a state shutdown of its nursing program. The Massachusetts Board of Registration in Nursing last week canceled Quincy's nursing programs, citing the low scores of its graduates on clinical exams.
- The faculty council at the University of Massachusetts Boston declared "no confidence" in UMass president Marty Meehan and the university's Board of Trustees on Monday, in the latest sign of frustration over the controversial acquisition of Mount Ida College.
- This week, the University of Miami took a step forward in advancing scientific and medical research, breaking ground on its new Phillip and Patricia Frost Science and Engineering Building, which will house an intertwined network of institutes aimed at boosting STEM across its campuses.
Rating Agency Update
- Moody's affirmed DePauw University's A3 rating. The outlook is stable.
- S&P affirmed St. Louis University's AA- rating. The outlook is stable.
- S&P affirmed University of New Mexico's AA rating. The outlook is revised from stable to negative.
- S&P affirmed Youngstown State University's A+ rating. The outlook is stable.
- S&P affirmed Worcester State University's A rating. The outlook is stable.
- S&P assigned AA to the University of California Board of Regents' Series 2018AZ Tax-Exempt General Revenue Bonds and Series 2018BA Taxable General Revenue Bonds. The outlook is stable.
- S&P assigned BBB to Western New England University's Series 2018 Revenue Bonds. The outlook is stable.