Higher education bonds

Michigan's Oakland University has become the second school in the state to forgo state aid in favor of a large tuition hike.

The College of New Jersey (TCNJ) has broken ground on a science, technology, engineering and math building, financed in part by the Garden State's $750 million Building Our Future Bond Act.

The Municipal Securities Rulemaking Board is giving 529 college savings plan underwriters a 60-day extension on the first date data submissions are due under a recently adopted rule.

Single-A rated Chapman University's $130 million of unsecured general obligation bonds will seek bond investors flush with cash from July 1 interest payments.

Standard & Poor's Ratings Services said it lowered its long-term rating and underlying rating to CCC-minus from CCC-plus on the University of Puerto Rico's existing university system revenue bonds.

Oregon Health and Science University will sell $100 Million of federally-taxable debt next week.

A Virginia judge approved a mediated deal June 22 that will keep Virginia's Briar College open for another year and release endowment funds.

Covenant violations on lines of credit and poor operations caused Howard University's bond rating to fall with the possibility of the rating declining more if the university cannot fix operations that have been running a deficit in recent years.

Midwestern University is making private loans to students in partnership with the Glendale Industrial Development Authority and the Illinois Finance Authority, which are coming to market with a total of $30 million of bonds that will fund additional lending.

Standard & Poor's lowered the bond ratings of Virginia’s Sweet Briar College further into junk territory June 18 due to the legal efforts to keep the institution open.

William Paterson University in Wayne, N.J. had its credit rating cut one notch with a negative outlook by Moody's Investors Service, which cited the regional public college's weakened student demand.

St. Olaf College in Minnesota has its rating affirmed by Moody’s Investors Service as the school heads into the market with a $54.4 million new money and refinancing issue.

The College of DuPage board hired a consultant after putting its treasurer and controller on paid administrative leave after questions were raised over their investment decisions.

The Virginia Supreme Court is ordering a lower court to take another look at legal efforts to prevent the financially troubled Sweet Briar College from closing.

The Long Beach Community College District in California has paid the Internal Revenue Service about $1.01 million to settle tax issues concerning its $48.37 million general obligation bond issue from 2008.

The Texas Legislature’s 84th Session closed with a $209 billion biennial budget, $3 billion of bonds for university construction and a proposed $3 billion of additional funding for highways.

The Internal Revenue Service had raised concerns about certificates of participation sold in 2003 to finance student housing at Western Carolina University, but ultimately closed the audit with no change to the COPs’ tax exemption.

Corvias Campus Living privately placed $548.3 million of taxable bonds for a 65-year P3 student housing pact with the University System of Georgia.

The Texas Senate approved a bill already passed by the House that provides $3 billion of tuition revenue bonds for the state’s colleges and universities.

El Paso Children’s Hospital filed for Chapter 11 bankruptcy protection on May 19 after negotiations over a debt to county-owned University Medical Center fell apart, officials said.