However, aspects affecting individual cases, such as those of Wesleyan and Colby, may be difficult to distinguish from those of general trends. For example, the number of A+ graded schools decreased markedly, from 111 last year to 27 this year.
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Wesleyan issued a century bond (as did Hamilton, Bowdoin and Tufts) in 2016 in the principal amount of $250 million. Capturing sub-5% debt for 100 years is smart capital allocation; that bond issuance was about de-risking the total debt portfolio with an opportunistic refinancing rather than for capital projects. However, in 2021, Wesleyan issued $55 million of its 2.872% bonds and in 2020 it issued $75 million of its 3.37% bonds. Wesleyanâs total debt is $454 million. My understanding is that a portion of the capital raise from the current campaign will be applied to capital projects. The campaign, which just entered its public phase, is already at 70% of its $600 million goal.
The Moodyâs credit ratings of the NESCAC schools are as follows (I believe this is still current):
Amherst - Aaa
Williams - Aa1
Bowdoin - Aa2
Colby - Aa2
Tufts - Aa2
Hamilton - Aa2
Wesleyan - Aa3
Middlebury - Aa3
Bates - A1
Trinity - A2
Conn - A2
All schools are thus âinvestment gradeâ for lending purposes, and I believe all the schools are on stable outlook. In 2021, Middlebury was on negative outlook (meaning its rating was in danger of a downgrade), but I believe that has been addressed and is now on stable outlook.
Whatâs interesting is that Amherst, which carries the highest possible debt rating, also carries more leverage than most of (or perhaps all of) the other schools, maintaining close to $610 million of debt. Of course, it also has an endowment in excess of $3 billion.
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Just to provide a little context, Emory, which boasts an $11 billion+ endowment, has a Aa2 bond rating, and is on negative outlook.
Can you share that info? I work there are we are seeing A LOT of budget cuts, but I canât find the bond rating.
Itâs from an April Bloomberg article access to which I cannot share. But here is the link, wherein it reported a Moodyâs downgrade of USCâs bond rating to Aa2 and a lowered outlook for Emory in January (24) due to âweak operating performance.â
In those cases, it appears the changes to the ratings were attributable to the performance of their healthcare systems.
Wall Street Journal quotes Wesleyan prez in article anticipating the return of political turmoil to Ivy campuses:
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A related opinion piece by President Roth in this morningâs NYTimes:
https://www.nytimes.com/2024/09/02/opinion/college-president-campus-political.html?unlocked_article_code=1.Hk4.Hc3O.yxeHneTvTxHR&smid=url-share
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Last Fridayâs NYTimes included an important article featuring two NESCACs, Amherst and Tufts. In essence, both appear to have suffered significant drops in Black first-year enrollment as a result of the Supreme Courtâs decision to end affirmative action practices in the college admissions process. Amherst, for the first time in decades, will have a freshman class that is 3% Black; at Tufts, it will be 4.7%. We will follow the results of other NESCACs as soon as we receive word:
https://www.nytimes.com/2024/08/30/us/black-enrollment-affirmative-action-amherst-tufts-uva.html?unlocked_article_code=1.Hk4.3KRN.gGTR-BBAPVod&smid=url-share
To be clear, this is not an invitation to discuss the politics of Race or the correctness of the Supreme Court decision, but merely to discuss the results of an important component of last yearâs admissions cycle - a collegeâs Student Profile.
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A Sampling of Princeton Review Rankings in which NESCACS Appear
Hamilton (#21) and Amherst (#22) appear in this category:
Hamilton (#25) appears in this category:
Middlebury (#10) and Williams (#12) appear in this category:
Williams (#8), Amherst (#20), Colby (#21) and Bowdoin (#22) appear in this category:
Bates (#16) and Hamilton (#21) appear in this category:
Wesleyan (#15) and Williams (#17) appear in this category:
Williams (#12) and Bowdoin (#17) appear in this category:
Colby (#21) and Hamilton (#23) appear in this category:
https://www.princetonreview.com/college-rankings/?rankings=friendliest-students
Bowdoin (#11) and Hamilton (#25) appear in this category:
Bowdoin (#9) and Wesleyan (#13) appear in this category:
Bates (#18) and Wesleyan (#23) appear in this category:
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Also,
Williams (#9), Bates (#16), Trinity (#20), and Amherst (#24) - I think the most in any category - appear here:
Williams (#8) and Wesleyan (#12) appear in this category:
Bowdoin (#4) and Bates (#6) appear in this category:
Wesleyan (#11) and Hamilton (#18) appear in this category:
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Also,
Bowdoin (#1), Amherst (#16) and Bates (#25) appear in this category:
Best College Dorms | The Princeton Review
Bowdoin (#15) appears in this category
Colleges with the Best Health Services | The Princeton Review
Bowdoin #25 appears in this category
Best-Run Colleges | The Princeton Review
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I think Bowdoin appears in 10 separate categories, followed by Wesleyan and Williams in 9 and 8 respectively.
NESCAC colleges in general seem to be places with Great Financial Aid where Liberal Students Study The Most. 
ETA: I believe Tufts was the only NESCAC not to appear in any of the listed categories.
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ESPN Sport Centerâs nightly Top 10 included Bates womenâs soccer. First year with a nifty goal. Nice to see DIII and NESCAC get some love. And womenâs sports!
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However, while some PR categories seem manifestly desirable, the appeal of others will be dependent on individual values. For example, Wesleyan (#11), Trinity (#16), Colby (#20) and Bates (#23) appear in this category:
And Wesleyan (#16), Connecticut College (#20) and Bates (#22) appear in this category:
Moreover, some categories seem manifestly undesirable. For example, Trinity (#9) and Connecticut College (#24) appear in this category:
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I saw it!!
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Forgot about this category:
And, I think weâre done.
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Just had a lengthy conversation with my Wesleyan theater kid about the almost overwhelming number of options available and how to prioritize which shows to audition for, how to balance theater department opportunities with student-run shows, etc. A real embarrassment of riches!
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Williams (#10) and Wesleyan (#14) carrying the NESCAC banner in this one, for those who donât want to click the link.
Vassar, perhaps an honorary NESCAC, at #22 for those who care.
I can recall a few years ago there was a discussion in this forum that this particular failing applied to Amherst. Those who knew the school disagreed, but it was nonetheless discussed. As best as I can recall without searching, it appeared on some ranking. At any rate, nice to see they didnât make the list, though U Mass Amherst did. What the heck is going on in Amherst MA? [Sarcasm intended ⊠I do not take these random rankings seriously, whether they comport with my opinions or not]
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I am surprised that Williams ranks above Wesleyan. My Dâs BFF chose Wesleyan over Williams in large part because there were so many more opportunities in theater at Wes. From what Iâve heard from my daughter, Williams doesnât have that many productions. She went to a high school with a very strong theater program and hasnât been overly impressed with the student-led productions. She said that the productions through the theater department were of much higher quality. Those shows have faculty and theater professionals working on them along with theater department students.
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