Most-clicked story of the week:
Moody’s Ratings lowered Columbia University’s financial outlook from stable to negative, citing looming caps on student lending, turbulent federal research funding and a shrinking pool of international students. The credit rating agency said Columbia could return to a stable outlook if it shows it can handle rising expenses and the risks facing its graduate programs.
Number of the week: 54.7%
The share of high school seniors who completed the Free Application for Federal Student Aid as of May 1, marking an all-time high, according to an analysis by the National College Attainment Network. NCAN attributed the gains to the FAFSA’s early launch this aid cycle, processing improvements and requirements in nine states for high school students to complete the form to graduate.
Canvas strikes deal with cyberattackers after data breach:
- Instructure struck a deal with hackers on May 11 after they infiltrated Canvas, the company’s learning management system, twice in the span of just one week. Instructure appears to have made a ransomware payment, according to cybersecurity experts.
- The deal came after hackers gained access to Canvas on May 7, triggering widespread disruptions for colleges and students during final exam season. For instance, Pennsylvania State University canceled tests administered on both the night of May 7 and the next day.
- Over two dozen lawsuits have been filed against Instructure over the cyberattacks, the Austin-American Statesman reported. In one lawsuit, an anonymous Baylor University student alleged that her final exam was moved back by one week, delaying her move-out plans.
Colorado State, Bowie State and University of Vermont grapple with budget challenges:
- Colorado State University System’s board approved a budget for fiscal 2027 that cuts $35.8 million from its main campus in Fort Collins. That includes layoffs representing 0.5% of the campus’s workforce.
- Bowie State University plans to cut 79 jobs by eliminating vacant roles and laying off employees. The historically Black college in Maryland is expecting a $18 million deficit in FY27 amid falling enrollment, rising costs and public funding cuts.
- University of Vermont officials say the public institution is staring down a $12 million budget deficit due to sinking undergraduate enrollment. Leaders say they plan to review their costs, including staffing, according to WCAX.
