Moody’s Investors Service confirmed The College of New Jersey’s A2 bond rating last month. Citing strong student demand and conservative financial management, the agency said TCNJ’s outlook is stable.
“We are pleased that after a thorough review, Moody’s has reaffirmed our rating,” said Jorge Caballero, chair of the college’s Board of Trustees and partner at Deloitte Tax LLP. “In recent weeks, many colleges and universities in New Jersey have received credit downgrades, which will make it more expensive for them to borrow money. In contrast, our financial position remains strong.”
This spring, TCNJ received a record 11,337 applications for 1,450 seats in the class that enters next month. It also launched its first-ever comprehensive fundraising campaign, which will ensure that the college remains exceptional and accessible for hardworking, high-striving students. More that $27 million has already been raised toward a goal of a $40 million.