March 6, 2008
With the Collapse of Variable-Rate Markets, Some Colleges Face Staggering Debt Costs
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 are scrambling to restructure hundreds of millions of dollars of debt, as the
This is an article for subscribers only. You may access this article by purchasing a:
Digital or Print Subscription
Web Pass
Already have an account? Log In Now.
-
Athletics
-
Nota Bene
-
Commentary
