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ERIC Number: EJ788987
Record Type: Journal
Publication Date: 2008-Mar-14
Pages: 1
Abstractor: ERIC
Reference Count: 0
ISBN: N/A
ISSN: ISSN-0009-5982
Colleges' Debt Is Fed by Rising Bond Rates
Wolverton, Brad
Chronicle of Higher Education, v54 n27 pA1 Mar 2008
Dozens of colleges and universities, including some of the country's wealthiest institutions, are facing a sharp rise in interest payments on a whopping mound of debt. About a third of the nearly 300 private institutions rated by Moody's Investors Service are financing more than half their debt with variable-rate bonds, some of whose rates have skyrocketed in recent weeks. Many colleges--public and private--are scrambling to restructure hundreds of millions of dollars of debt, as the interest payments double or triple beyond what they had budgeted and a long-term rise in rates appears possible. This article discusses how higher education institutions are moving to fixed-rate securities as they face the credit crunch.
Chronicle of Higher Education. 1255 23rd Street NW Suite 700, Washington, DC 20037. Tel: 800-728-2803; e-mail: circulation@chronicle.com; Web site: http://chronicle.com/
Publication Type: Journal Articles; Reports - Descriptive
Education Level: Higher Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A