Harvard, MIT Lead Elite Colleges’ $4 Billion Debt Spree After Trump Threat
A student in front of the Harry Elkins Widener Memorial Library before graduation ceremonies on the Harvard University campus in Cambridge, Massachusetts.
Photographer: Sophie Park/BloombergElite American universities have taken on more than $4 billion in additional debt since March that will help protect their finances as the Trump administration takes aim at their budgets.
Harvard University, the face of the fight, has boosted its debt load 16% after a bond sale in April. The Massachusetts Institute of Technology just ramped up its liabilities 18% to $5.2 billion. Top-tier schools have sold taxable bonds, taken out private loans, and increased capacity for commercial paper, according to data compiled by Bloomberg.