I agree with the bond ratings - that’s more to ensure a schools’ ability to pay their debt. Not all schools will have them though.
So an example is Clark University - they are cutting programs rapidly and you can read about it - but I cannot find a bond rating. Last year (not this) Forbes gave Clark a B-.
Forbes also has a “college health index” but I can’t find a free list. But you could subscribe for a month for $10 if you want and then get the list and other related articles, etc.
Also, last August, @randommom1 posted the 2024 list - things may have changed but this could give you an idea - Go to Message 4.
It’s an interesting list - Syracuse U is a AA- by Moody’s so bulletproof to pay their debt (I own their bonds) but Forbes gives a B- so you need to read how they grade…hence it might make sense to subscribe for a month (a very low expense vs. the cost of college).
Forbes 2024 Financial Grades - Applying to College - College Confidential Forums
Forbes College Financial Grades 2025: America’s Strongest And Weakest Schools