Data and ratings as of June 1, 2024
U.S. Not-For-Profit College And University Fiscal 2023 Medians And Ratios
Private And Public Institutions
423
51
Percentage of institutions
Rated public and private
institutions
States and territories represented
66% of 423 institutions
34% of 423 institutions
A-
A+
Source: S&P Global Ratings.
Source: S&P Global Ratings.
Rating
distribution
AAA
AA
A
BBB
SPEC
AAA
AA
A
BBB
SPEC
Median rating for
private institutions
Median rating for
public institutions
Published articles
12
44
86
111
25
7
53
68
15
2
Source: S&P Global Ratings.
Source: S&P Global Ratings.
Outlook distribution
Primary authors
Megan Kearns
megan.kearns@spglobal.com
Ruchika Radhakrishnan
ruchika.r@spglobal.com
Secondary contacts
Jessica Wood
jessica.wood@spglobal.com
Laura A Kuffler Macdonald
laura.kuffler.macdonald@spglobal.com
Content visualization contacts
Deegant Pandya
deegant.pandya@spglobal.com
Bushra Dawawala
bushra.dawawala@spglobal.com
Source: S&P Global Ratings.
Source: S&P Global Ratings.
Data and ratings as of June 1, 2024.
Data and ratings as of June 1, 2024
U.S. Not-For-Profit Private College And University Fiscal 2023 Medians
Inflated expenses, deflated support as margins weaken under demand pressure
Overview
Tuition discount rate (%)
Matriculation (%)
278
39
Rated private institutions
States and territories
represented
Rating distribution
(%)
14%
A-
Private institutions on a negative outlook as of June 1, 2024
Median rating for
private institutions
SG--Speculative-grade. Source: S&P Global Ratings.
SG--Speculative-grade. Source: S&P Global Ratings.
SG--Speculative-grade. Source: S&P Global Ratings.
Source: S&P Global Ratings.
Cash and investments to operations (%)
Cash and investments to debt (%)
Change in median debt
Published
articles
Primary authors
Megan Kearns
megan.kearns@spglobal.com
Secondary contacts
Jessica Wood
jessica.wood@spglobal.com
Laura A Kuffler Macdonald
laura.kuffler.macdonald@spglobal.com
Content visualization contacts
Deegant Pandya
deegant.pandya@spglobal.com
Bushra Dawawala
bushra.dawawala@spglobal.com
SG--Speculative-grade. Source: S&P Global Ratings.
SG--Speculative-grade. Source: S&P Global Ratings.
SG--Speculative-grade. Source: S&P Global Ratings.
Data and ratings as of June 1, 2024.