August 5, 2005
Colleges Load Up on Debt
Although public and private colleges have seen record numbers of applications in recent years, all that growth has come at a steep financial cost.
Colleges are loading up on debt to build the new residence halls, classrooms, and other facilities that have helped them in the competition to attract students, according to a recent report from Standard & Poor's, a credit-rating agency.
One of the reasons for the increasing debt load is that construction is more expensive than in
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