Pricey N.J. college gets stung by credit agency junk rating

MADISON — New Jersey’s second-most expensive college has been losing money and faces a difficult path to regaining financial stability, according to a Wall Street credit rating agency. 

Moody’s Investors Service on Friday downgraded Drew University, a private college of about 1,800 students in Madison, for the second time in 15 months.

The downgrade reflects “the continued weakening of the university’s financial viability,” Moody’s reported. Drew, which costs more than $47,000 a year in tuition and fees, is operating with unsustainable deficits and relies on loans or money from its diminishing endowment to cover its bills, the agency …read more

Source: Morris

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