Moody's Investors Service has downgraded Pennsylvania’s higher education system.
The credit rating agency says a recent drop in enrollment and high employee pensions and health care costs have reduced the state’s rating from AA2 to AA3.
The change will affect about $1.5 billion in bonds held by the state’s higher education system.
On a similar note, a new report by the College Board shows that Pennsylvania is the fourth highest for college tuition costs and also reports that tuition at public universities is up nearly 5% this fall.
Additionally, the Institute for College Access and Success also released a report this week showing that college graduates in the state carry more student loan debt than any other state.
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