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College Hurt by International Student Drop to Drain Endowment

Bloomberg Markets Thursday 22 October 2026, 18:45 UTC By Shruti Date Singh and Amanda Albright 1 min read
Key Points

College Hurt by International Student Drop to Drain Endowment The Illinois Institute of Technology, a STEM focused university in Chicago, plans to borrow as much as $200 million from its endowment through fiscal 2028 as it struggles with a decline in international students. Such large loans from an endowment are unusual and reflect the fiscal strain that the school is facing. Its plan prompted S&P Global Ratings to slash the university’s credit rating deeper into junk, to BB from BB+, with a...

College Hurt by International Student Drop to Drain Endowment The Illinois Institute of Technology, a STEM focused university in Chicago, plans to borrow as much as $200 million from its endowment through fiscal 2028 as it struggles with a decline in international students. Such large loans from an endowment are unusual and reflect the fiscal strain that the school is facing. Its plan prompted S&P Global Ratings to slash the university’s credit rating deeper into junk, to BB from BB+, with a negative outlook. The endowment’s market value was projected at $300 million as of fiscal 2026.
College Hurt (ORG) Drain Endowment College Hurt (ORG) Drain Endowment The Illinois Institute of Technology (ORG) Chicago (LOCATION) S&P Global Ratings (ORG) BB (LOCATION)
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