The financial position and future outlook for West Virginia University remains strong, according to a recent credit rating announcement from S&P Global Ratings and Fitch, and a clean independent audit from CliftonLarsonAllen. (WVU Photo/David Malecki)
The financial position and long-term outlook for West Virginia University remain strong, according to a recent report from S&P Global Ratings.
The University maintained its A credit rating with S&P and a “stable” outlook, noting the University’s flagship land-grant status, diverse program offerings, good geographic diversity, and rising state operating appropriations the past two years along with additional state funds for capital support.
Earlier this year, Fitch reaffirmed an AA- rating for WVU, and last month, the University received a clean independent audit from CliftonLarsonAllen. Both reflect good financial standing and creditworthiness.
“We are pleased S&P and Fitch extended our strong ratings and continue to recognize our efforts to address the challenges facing higher education,” Chief Financial Officer Paula Congelio said. “These reaffirmations reflect disciplined, strong leadership which guides our decision-making and will allow us to strategically invest in the University’s long-term future.”
In determining the stability of WVU, S&P stated the A rating is supported by a diverse revenue base, healthy fundraising success and “improvements in selectivity the past three years, solid retention and graduation rates, and status of the highest Carnegie research classification” despite continued enrollment pressures aligned with broader higher education trends.
The University is leveraging partnerships to bolster enrollment with initiatives like the new WVU Degree Up program and it is prioritizing financial aid and scholarship opportunities for students.
The cost of a WVU degree compared nationally to an average four-year school is 29% less, according to U.S. News & World Report, and in May 2024, 43% of WVU System graduates earning bachelor’s degrees had zero federal student loan debt.
-WVU-
ak/12/4/24
MEDIA CONTACT: April Kaull
Executive Director of Communications
WVU Strategic Communications and Marketing
304-293-3990; April.Kaull@mail.wvu.edu
Call 1-855-WVU-NEWS for the latest West Virginia University news and information from WVUToday.